The stock market is sending signals that a Biden-led blue wave is getting less certain, says one Wall Street strategist
- While the polls suggest a blue wave victory is in reach for Democrats this November, the stock market isn’t so sure, according to a note from Evercore ISI.
- Wall Street strategists have been forecasting that a blue wave would likely be positive for stocks on hopes of a large stimulus deal shortly after the election, which would help spur a surge in value and cyclical stocks.
- But this week’s rotation out of value and into tech suggests that chances of a blue wave in November are less likely, according to the note.
- Visit Business Insider’s homepage for more stories.
Wall Street is increasingly expecting a blue wave victory for Democrats this November after the polls close, which would likely lead to the reflation trade: a surge in cyclical and value stocks at the expense of technology and growth stocks.
But recent trading activity in the stock market suggests odds of a blue wave are less likely, according to a Tuesday note from Evercore ISI.
Specifically, this week’s rotation out of small cap and value and into large cap and growth could be chalked up to declining odds of a Democratic sweep, according to the note.
The firm pointed to the October surprise in North Carolina’s Senate race between Republican Thom Tillis and Democrat Cal Cunningham as evidence for declining chances of Democrats overtaking the Senate.
“The Democratic ‘dream fiscal program’ odds are lower,” Evercore said as explanation for what is driving the rotation back into tech.
Read more: Jeff James has crushed the market this year thanks to a stock pick that’s soared 1,155%. He shares another bet he expects to deliver similar returns – and lays out 3 additional opportunities in tech.
The firm did concede that other factors could be moving tech stocks, including excitement around
The Sustainable Ocean Alliance and its Ocean Solutions Accelerator take on the problems facing our planet’s waters, and the latest cohort of companies in the latter show a fresh slate of issues to address and resources to utilize. From reef rehabilitation to a “Fitbit for fishing boats,” they’re trying to fix things up in the oceans or at least mitigate the damage we’re doing down there.
The accelerator’s four week, all-virtual (like all of them these days) program focuses on the unique challenges faced by social good companies in this space.
“Startups in the sector are still struggling to find adequate funding during the early phases of operations,” the accelerator’s co-founder Craig Dudenhoffer told TechCrunch in an email. “Many of the solutions (especially hardware) are costly to produce and take a heavy upfront cash investment. We found that out of the hundreds of applicants, only a fraction had received substantial investments. We believe more investors need to educate themselves on opportunities in the ocean sector.”
The SOA team selected nine companies for this wave, only three of which are U.S.-based. “This year, in spite of the COVID-19 pandemic, we saw our largest and most diverse applicant pool to date,” said Dudenhoffer in the release announcing the companies. “I was particularly encouraged by this year’s applicant pool to see the varying types of solutions, as well as an increase in the number of entrepreneurs that are actively building technologies to address the critical challenges that face the ocean.”
SOA founder Daniela Fernandez recently noted that their area of operation is especially international, so keeping things virtual actually opens up a lot of possibilities, especially for smaller companies that can’t afford to temporarily relocate. “It gives you so many options and makes it far more inclusive,” she told me. “Everybody just has
After taking five consecutive business days off from my work laptop — and to shout at my personal laptop while losing games on Dominion online — I am back. I missed you. And while The Exchange’s regular columns were off this week (Friday aside, which you can read here), there’s still a hell of a lot to talk about.
First, a new website. If you click here, you’ll be taken to a sortable list (spreadsheet? database?) of startups with Black founders. Dubbed The Black Founder List, it’s a great asset and tool.
For folks like myself with a research and reporting focus, the list’s sortability of companies founded by Black entrepreneurs by gender, stage and market focus is amazing. And, for investors, it should provide potential dealflow. Do you write lots of Series C checks? The Black Founder List has 23 Series B startups with Black founders. Or if you prefer Series D checks, there are 11 Series C startups with Black founders to check out.
Who is writing the most checks to Black founders? Among the top names are M25, a midwest VC group, Techstars Boston and a number of angels.
The website was compiled by much the same team that TechCrunch highlighted earlier this year, when their data collection work concerning Black founders was more spreadsheet than app. So, please point your thanks for the new resource to Yonas Beshawred, Sefanit Tades, James Norman and Hans Yadav.
The Black Founder List also has a data submission button, so if you notice a missing name, add it. I want the data set to be as robust as possible, as, I reckon, it will prove a great reporting resource. And public data like this obviates certain excuses from the investing class.
I missed a lot this
- Many smart home gadgets focus on convenience features, but there’s one device you need that actually helps keep you safe.
- It’s called the Airthings Wave Plus and it monitors the air in your home to alert you automatically of things like radon and other airborne toxins.
- The mid-range Airthings Wave has an even deeper discount right now at Amazon, and the new Airthings Wave Mini that also detects mold is available for just $79.65.
When you thing of smart home devices, the first things that come to mind are undoubtedly neat gadgets that focus on convenience features. Philips Hue smart LED light bulbs are undoubtedly at the top of most people’s lists, as are all the smart devices out there that work with Amazon Alexa. Another cool one is the MyQ Smart Garage Door Opener, which lets you open and close your garage door from anywhere in the world using your iPhone or Android.
Those are all great gadgets that you should definitely check out, but there’s a relatively new type of smart home device that’s about more than just convenience. Instead, the Airthings Wave Plus and other Airthings devices are there to help keep your family safe.
The high-end Airthings Wave Plus is an air-quality monitor that senses things like radon, elevated CO2 levels, and airborne toxins (Total VOCs). It connects to your smartphone via Bluetooth and gives you instant readings as well as reports. Audible alerts warn you of problems with the air quality in your home, of course, so you don’t need to worry about connecting your phone in order to check for problems. This model typically costs $230, but you’ll find it on sale right now on Amazon for $197.50.
An even deeper discount can