Late-stage stimulus negotiations and the final presidential debate are moving markets, and Black Friday comes early this year. Here's how the headlines could affect your money.
Markets were up Thursday as investors eyed ongoing coronavirus stimulus talks between the White House and Democrats. Friday morning, the three indexes remained steady, following a relatively subdued final presidential debate between President Donald Trump and former Vice President Joe Biden.
Markets often move around more in the months leading up to a presidential election, as measured by the VIX, but this doesn't have to affect your investment decisions. The VIX typically levels out postelection. Since the end of World War II, all but two U.S. presidents have seen the market go up during their terms.
Biden and Trump convened Thursday in Nashville to debate coronavirus policy, their personal finances, and a number of their policy differences that could affect your money.
Biden said he would implement "Obamacare plus a public option." Trump dismissed Biden's plan as "socialized medicine."
They also argued over a minimum wage. Biden advocated for a nationwide $15/hour minimum wage, while Trump said the decision should be left to states.
There will still be a Black Friday this year — and then some. Amazon's Holiday Dash deals event has already begun, including 30% off Lego sets and 40% off Levi's clothing. Best Buy already jump-started holiday savings, including a price match guarantee valid through November 28. Walmart and Target are both holding monthlong Black Friday events.
The VIX, or CBOE Volatility Index, is an index that measures the 30-day expected turbulence of the S&P 500 index, based on the real-time prices of S&P options. The VIX is viewed as a measure of investor uncertainty in the market and is closely followed by traders.
Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.
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