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Joe Biden speaks yesterday at Plumbers Local Union 27 training center in Erie, Pa. Photo: Kevin Lamarque/Reuters

Joe Biden’s widening lead in polls is providing a bullish cue to investment strategists: Wall Street now sees less chance of a contested election and more chance of a "blue wave" — Democrats taking the House, Senate and White House — and the hearty stimulus that could follow.

Why it matters: A clear-cut Democratic win would "provide certainty to markets that have been nervous about election risks," Bloomberg reports, citing strategists from Citigroup to JPMorgan Chase.

  • Shares of alternative energy companies, which analysts expect to prosper from policies under a Biden administration, climbed sharply after the Trump-Biden debate, per Reuters.

The Business cover of Thursday's N.Y. Times had the headline, "Wall Street Takes a Turn For Biden," with the online version: "Wait, Wall Street Is Pro-Biden Now?"

  • "[I]nvestors are of the view that a 'blue wave' victory ... represents the best chance to get another large injection of federal money into an economy that continues to struggle."

But keep your eye on the ball! Goldman Sachs Portfolio Strategy Research told clients Friday night in the US Weekly Kickstart: "A vaccine is more important than the election, which is more important than 3Q results."

  • "Investors are focused on the implications of a 'blue wave' election. ... However, the vaccine represents a more important factor than the election result for the path of equities. Our assessment of both vaccines and treatments remains optimistic."
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Go deeper

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

DOJ: Capitol rioter threatened to "assassinate" Alexandria Ocasio-Cortez

Supporters of former President Trump storm the U.S. Captiol on Jan. 6. Photo: Kent Nishimura / Los Angeles Times via Getty Images

A Texas man who has been charged with storming the U.S. Capitol in the deadly Jan. 6 siege posted death threats against Rep. Alexandria Ocasio-Cortez (D-N.Y.), the Department of Justice said.

The big picture: Garret Miller faces five charges in connection to the riot by supporters of former President Trump, including violent entry and disorderly conduct on Capitol grounds and making threats. According to court documents, Miller posted violent threats online the day of the siege, including tweeting “Assassinate AOC.”