Connect with us

Hi, what are you looking for?


Super Tuesday Results Boost Dow

Super Tuesday fervor gave stocks a shot in the arm.

The national stock indexes haven’t been in the best place over the last week as coronavirus fears have drastically slowed the markets. However, an unexpected boost to healthcare stocks, and by extension the indexes, came on the heels of the Super Tuesday primary polls.

Former vice president and current democratic candidate Joe Biden swept the polls on Tuesday, claiming nine of the fifteen contested states. In response to this, healthcare stocks soared. The Health Care Select Sector SPDR ETF (XLV) rose 3%, UnitedHealth leaped 10%, and Centene jumped up 12.9%. These sudden boosts gave the indexes a bit of relief from the disease fears; the Dow rose 610 points, about 2.3%, while the S&P 500 and Nasdaq jumped 1.9% and 1.8%, respectively.

Biden’s triumph over fellow democratic candidate Sen. Bernie Sanders likely emboldened investors. Business analysts have not been subtle about their dislike of Sanders as a far-left candidate. President and chief investment strategist at Yardeni Research, Ed Yardeni, explained this disdain in a note to CNBC.

“Investors fear Bernie because he wants to cut off the head of capitalism by raising taxes significantly on the rich and using the funds to provide free everything to everybody else,” he explained. “Getting everything for free trumps freedom, according to Bernie. No wonder investors are reacting to him as though he is going to infect us all with the virus of socialism.”

Investors are similarly not fond of Sen. Elizabeth Warren due to her desires to break up large financial institutions and raise taxes. Josh Brown, CEO of Ritholtz Wealth Management, tweeted a prediction for the market in relation to Warren.

You May Also Like


In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...


While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...


As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...


As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...


This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...


Last week, a former cybersecurity expert for Twitter, Peiter “Mudge” Zatko, released a whistleblower report on the social platform. In his report, Zatko cited...


Zelle is a peer-to-peer payment app and service that can be used by individuals to send and receive money, in a similar vein to...


Earlier this week, following the third-term victory of Chinese President Xi Jinping, market shares in Hong Kong experienced a sudden, violent sell-off. Xi’s controversial...