The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
A new poll of Wall Street insiders shows that a vast majority expect President Donald Trump to win reelection in 2020.
While Joe Biden was viewed as the most stock market-friendly possible Democratic candidate for the White House, more than 70% of survey respondents told global investment bank RBC Capital Markets that they expect Trump to be reelected.
"Most expect Trump to win in 2020, but there's still some nervousness around the event," Lori Calvasina, RBC's head of U.S. equity strategy, wrote to clients. Sixty-seven percent "of our March 2019 survey respondents believe that Joe Biden is seen as the most acceptable Democratic candidate by the stock market for the White House. No other candidate got a significant number of votes."
The survey was conducted after special counsel Robert Mueller gave the results of his investigation to the Justice Department; 141 equity-focused institutional investors were polled.
Presidential elections can have important implications for financial markets based on what traders believe the elected candidate will prioritize while in office. The Dow Jones Industrial Average rallied more than 450 points in the two days following Trump's election in 2016 and jumped nearly 8 percent into year-end as investors grew confident in future corporate tax reform and big spending.
That's not to say that the election of a Democratic candidate in 2020 would necessarily put a damper on the equity market.
Calvasina added that 40% of investors have already made changes to their portfolio in anticipation of the election or indicated that they plan to do so. Further, the stock strategist said that if Biden does not declare, or the polling data suggests that he won't win the Democratic nomination, it could weigh on the market because of the anti-business policies of the other contenders.
"Early polls for 2020 Democratic Presidential Nomination are favoring Joe Biden," the strategist added. "Bernie Sanders comes in second place, by a 7 point spread relative to Biden, however, Sanders is seen by our Survey respondents as the second least acceptable Democratic candidate by the stock market."
Sen. Elizabeth Warren, D-Mass., is seen by a majority as the least acceptable Democratic candidate for the stock market.
What Wall Street expects isn't always a good predictor of what will happen, however. During the 2016 election, a CNBC Fed Survey found that 80 percent of respondents saw Democrat Hillary Clinton winning the presidency, well ahead of the 13 percent who thought Trump would win.
At that time, Wall Street economists thought that Ohio Republican John Kasich's policies were best for the economy and for the stock market, though he ultimately lost the party's nomination to Trump.