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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Ben Geman, author of Generate
Oct 26, 2020 - Energy & Environment

Trump reaches for oily lifeline

Illustration: Sarah Grillo/Axios

President Trump's campaign is making energy policy a prominent part of its closing swing state attacks against Joe Biden — especially in Pennsylvania, a state critical to Trump's reelection effort where he's trailing in the polls.

Driving the news: Trump's efforts include a new ad in Pennsylvania alleging that his Democratic presidential rival would crush the state's gas industry, and his campaign has aggressively deployed surrogates talking about energy in recent days.

12 mins ago - Health

Fauci says U.S. may not return to normal until 2022

Director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci, testifies during a September Senate hearing on COVID-19 in Washington, D.C. Photo: Graeme Jennings/Pool/AFP via Getty Images

NIAID director Anthony Fauci told the Journal of the American Medical Association on Wednesday he doesn't expect a COVID-19 vaccine to be ready until January 2021 or later.

What he's saying: Fauci said during the interview that the U.S. was in a "bad position" after failing to keep case numbers down post-summer. "We should have been way down in baseline and daily cases and we’re not," he said.

Hurricane Zeta makes landfall on Louisiana coast as Category 2 storm

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta is "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain," per the National Hurricane Center.

What's happening: The hurricane was producing maximum sustained winds of nearly 110 mph and stronger gusts after making landfall on the southeastern coast of Louisiana as a Category 2 storm earlier Wednesday. By nightfall, Zeta had sustained winds of 80 mph with a wind gust of 104 mph.