Former Vice-President Joe Biden may run for President in the 2020 election. He stated recently that his platform would be the Obama/Biden policies of yesteryear.
Were he to be elected, and if the old Obama policies were resurrected, we could very well see the S&P 500 Index return to pre-Trump levels around the 2200 level, or lower, as shown on the monthly chart below.
In the two years since President Trump took office, the SPX has gained around the same number of points as it did in the last four years of Obama's presidency. Those gains are in jeopardy, as uncertainty will weigh on markets in anticipation of a possible return to a more socialist agenda under Biden, or an even more far-left leaning Democrat.
Think about it...the Democrats' Green New Deal (et al) is only an election away...
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UPCOMING (MAJOR) U.S. ECONOMIC VENTS...
* Wed. May 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. May 23 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9, Feb. 21 PMI came in at 47.6, Mar. 22 came in at 44.7 & Apr. 18 came in at 44.5 (contraction mode deepens!)
* Wed. May 29 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 7 @ 8:30 am ET ~ Employment Data
* Wed. June 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Fri. June 14 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. June 19 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...