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“The sun comes up and the world still spins.”

MarketFoolery

The Motley Fool

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4.71.7K Ratings

🗓️ 4 November 2020

⏱️ 18 minutes

🧾️ Download transcript

Summary

Despite election uncertainty, business continues on Wall Street. Shares of Scott’s Miracle-Gro rise after the company wraps up a strong fiscal year. Global same-store sales were a bright spot in Wendy’s 3rd-quarter report, but challenges continue. Ron Gross analyzes those stories, as well as Uber and Lyft getting a boost from California’s voters.

Transcript

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0:00.0

It's Wednesday, November 4th.

0:04.0

Welcome to Market Foolery.

0:05.0

I'm Chris Hill with me today, the one and only, Ron Gross.

0:09.0

Thanks for being here.

0:10.0

Hey, always a pleasure to be here with you, Chris.

0:12.0

Uh... So... always a pleasure to be here with you Chris. So there's an election going on and I say

0:17.1

going on because votes are still being counted. Literally going on. So we'll get to that. We do have some earnings to get to because the sun comes up and the world still spins.

0:27.0

But let me start with a couple of things.

0:30.0

It is just after 11 a.m. on the East Coast. I feel like it's important to time stamp the show today

0:39.0

for the just to provide a little context particularly for younger

0:45.4

listeners. This is the fourth time in the past six

0:49.6

presidential elections in the United States

0:51.9

that a winner was not declared on election day so

0:55.6

maybe we should be used to this by now as I said votes are still being counted

1:00.2

but you look at the markets run the markets appear to be pretty calm the the Vix is down the volatility index for anyone who who tracks that sort of thing

1:11.8

And as I as I said to you this morning on Slack, it's a really good thing that there

1:16.2

are no publicly traded polling companies. I feel like if polling companies were publicly

1:21.1

traded, those stocks would be headed to zero.

1:23.2

Yeah, it's rough. It's always hard to kind of figure out why the market is doing what it's

1:28.0

doing in any given day. So the market's so far very strong today. Tech stocks are strong and so what is it

1:35.3

discounting is it is it discounting that there isn't a blue wave even though

1:41.0

Biden still very well may win. It isn't the blue wave that some had

...

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