Now, whether this outcome is a good or a bad thing for the states in question is another matter. But it does seem that it was a good thing for stocks. Not necessarily because the republican candidates won, but because any fears—unfounded as they may be— of a progressive tidal wave wiping out capitalism as we know it have subsided. More than anything, markets like very little to happen politically at all, according to Jim Cramer.
“…I can tell you that the stock market loves gridlock in Washington. It loves paralysis. It loves a government that does nothing,” he said, regarding this week’s election results.
Vaccine Stupidity Also Fueled Markets This Week
Sorry, I meant vaccine “hesitancy.” The new “gamechanger” pill by Pfizer (NYSE:PFE) added to the bullish sentiment on the Street today. The experimental pill to treat Covid-19, the pharma giant, said, helped reduce the risk of hospitalization and death from coronavirus, also helped lift market sentiment. Shares of Pfizer jumped nearly 10% Friday.
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