Wall Street rally gains steam, with the Dow surging 300 points.
" he thinks "there's enough stimulus in the pipeline for now to kind of get us through year-end without causing a risk of a double-dip recession, and ultimately, no matter who wins the election, by the first quarter we'll have an additional stimulus that's probably still required to make sure that the recovery continues."
Wall Street was coming off a strong performance last week. The Dow posted its biggest one-week gain since August, while the S&P 500 and"Markets last week appeared to price perceived election clarity, and with it, a growing likelihood of additional fiscal stimulus – at least in the pipeline. This was reflected from small cap outperformance to rising Treasury yields," Julian Emanuel, BTIG's chief equity and derivatives strategist, said in a note to clients Sunday.
Investors are also bracing for the third-quarter earnings season. Several major banks and airlines are slated to report their results this week, including
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