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© Spencer Platt/Getty Images NEW YORK, NEW YORK - NOVEMBER 24: People walk past the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. As investor's fear of an election crisis eases, the DowJones Industrial Average passed the 30,000 milestone for the first time on Tuesday morning. (Photo by Spencer Platt/Getty Images)President Donald Trump repeatedly warned Americans that if they failed to reelect him, the stock market would implode. Minecraft pocket edition free ios. In reality, the opposite happened.
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Between August and October alone, Trump sent six tweets saying markets would 'crash' if Joe Biden were elected, using a word presidents typically avoid.
'The Dow Jones Industrial just closed above 29,000! You are so lucky to have me as your President,' Trump wrote on September 2. 'With Joe Hiden' it would crash.'
Yet no post-election meltdown emerged. If anything, markets melted up as nightmare election scenarios were avoided and investors celebrated coronavirus vaccine breakthroughs from Pfizer and Moderna.
The S&P 500 notched its best election week rally since 1932. And despite a sharp pullback Monday, the Dow soared nearly 12% in November, its best month since January 1987. The S&P 500 and Nasdaq enjoyed their best month since April.
'In terms of Biden being bad for the market, we can already see the opposite is true,' said Daryl Jones, director of research at Hedgeye Risk Management.
Wall Street has moved on from Trump
There's no doubt that Trump's tax cuts and deregulation helped boost markets. His trade war with China and love of tariffs, however, were clear negatives for stocks.
Biden is signaling he won't adopt extreme policies that would rattle markets. His economic team, unveiled Monday, is headlined by Janet Yellen, the crisis-tested former Federal Reserve chair with whom investors are very comfortable.
'Biden is showing us that from a business and economic standpoint, he's likely to be moderate,' Jones said.
The strong November performance on Wall Street partially reflects relief that the election removed a huge cloud of uncertainty, even if the votes took time to count. Before the election, there were serious concerns about a constitutional crisis and the transfer of power. But investors have largely shrugged off Trump's avalanche of election-related lawsuits as a sideshow doomed to fail.
'The fear was there would be a seriously contested election,' said Kristina Hooper, chief global market strategist at Invesco. 'Certainly, it's being contested but there's a recognition there's a very, very slim chance that President Trump will actually succeed in his bid to overturn the election results.'
Gridlock beats blue wave
Even better from Wall Street's perspective, the election failed to produce the blue wave Democrats hoped for.
Democrats would need to win both Georgia runoff races in order to get control of the Senate, with Vice President-elect Kamala Harris breaking a 50/50 tie.
Republicans are the heavy favorites to retain control of the Senate, according to PredictIt, an online prediction market.
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Divided government in 2021 means Biden won't be able to raise corporate and personal taxes, a huge relief to investors. It will also limit the ability of Democrats to pass sweeping climate legislation.
Markets are focused on 'game changer' vaccines
The celebration on Wall Street comes even as the suffering mounts on Main Street.
The pandemic returned this fall with a vengeance, with coronavirus infections and hospitalizations at record highs. Health restrictions are back, and federal relief is expiring.
All of this is hammering mom-and-pop shops, movie theaters, hotels, airlines and restaurants. Jobless claims have climbed in back-to-back weeks and the government jobs report due out on Friday is expected to show hiring slowed in November.
But investors are looking past the worsening pandemic and focusing instead on enormous progress on vaccines.
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'The vaccine news is a real game changer,' said Hooper. 'The stock market has this great ability to look through immediate headwinds to a future that appears brighter.'
Moderna said Monday that its vaccine is 100% effective against severe Covid-19. That's a huge positive given that just a few months ago there were concerns whether an effective vaccine could ever be developed.
Now, there is greater confidence of a stronger economic recovery in 2021 that will include hard-hit sectors like travel.
Bank of America economists predict global GDP will surge by 5.4% in 2021, the best year since 1973. US GDP is expected to increase by 4.5%, the strongest since 1999.
'A year of vaccine not virus, a year of reopening not lockdown, a year of recovery not recession,' Michael Hartnett, chief investment strategist at Bank of America, wrote in a note Monday.
The gap between rich and poor is getting wider
The market boom sends a positive signal that can encourage nervous consumers and corporations to spend instead of hunker down. That, in turn, can boost the real economy.
Yet the V-shaped recovery on Wall Street is another example of how the pandemic is worsening inequality. That's because millions of Americans don't get a boost from the market boom.
Only about half (52%) of American families have some level of investment in the market, mostly through 401(k)s and other retirement accounts, according to the Pew Research Center. Just 14% of households are directly invested in the market.
And the surging stock market is likely exacerbating the divide between rich and poor because affluent families have far more skin in the game.
As of the first quarter of 2020, the wealthiest 10% of American households owned 87% of all stocks and mutual funds, according to the Federal Reserve. The middle class, by contrast, owned just 6.6% of stocks, according to NYU professor Edward Wolff.
No matter who owns stocks, markets can't go up forever.
At some point, the vaccine optimism will all be priced in. The epic rebound on Wall Street — the S&P 500 is up a stunning 61% since the March 23 low — has driven up market valuations to levels unseen since the dotcom bubble.
Bank of America's Hartnett argued it would be 'silly to think big stock market gains from here' won't cause negative responses, including higher inflation, higher taxes and higher bond yields. That's why he's advising clients to 'sell into strength on vaccine in coming months.'
'We expect peak prices in early '21,' Hartnett wrote.
There's no doubt that Trump's tax cuts and deregulation helped boost markets. His trade war with China and love of tariffs, however, were clear negatives for stocks.
Biden is signaling he won't adopt extreme policies that would rattle markets. His economic team, unveiled Monday, is headlined by Janet Yellen, the crisis-tested former Federal Reserve chair with whom investors are very comfortable.
'Biden is showing us that from a business and economic standpoint, he's likely to be moderate,' Jones said.
The strong November performance on Wall Street partially reflects relief that the election removed a huge cloud of uncertainty, even if the votes took time to count. Before the election, there were serious concerns about a constitutional crisis and the transfer of power. But investors have largely shrugged off Trump's avalanche of election-related lawsuits as a sideshow doomed to fail.
'The fear was there would be a seriously contested election,' said Kristina Hooper, chief global market strategist at Invesco. 'Certainly, it's being contested but there's a recognition there's a very, very slim chance that President Trump will actually succeed in his bid to overturn the election results.'
Gridlock beats blue wave
Even better from Wall Street's perspective, the election failed to produce the blue wave Democrats hoped for.
Democrats would need to win both Georgia runoff races in order to get control of the Senate, with Vice President-elect Kamala Harris breaking a 50/50 tie.
Republicans are the heavy favorites to retain control of the Senate, according to PredictIt, an online prediction market.
Game Video Download Pc
Divided government in 2021 means Biden won't be able to raise corporate and personal taxes, a huge relief to investors. It will also limit the ability of Democrats to pass sweeping climate legislation.
Markets are focused on 'game changer' vaccines
The celebration on Wall Street comes even as the suffering mounts on Main Street.
The pandemic returned this fall with a vengeance, with coronavirus infections and hospitalizations at record highs. Health restrictions are back, and federal relief is expiring.
All of this is hammering mom-and-pop shops, movie theaters, hotels, airlines and restaurants. Jobless claims have climbed in back-to-back weeks and the government jobs report due out on Friday is expected to show hiring slowed in November.
But investors are looking past the worsening pandemic and focusing instead on enormous progress on vaccines.
Football The Last Game Video Download
'The vaccine news is a real game changer,' said Hooper. 'The stock market has this great ability to look through immediate headwinds to a future that appears brighter.'
Moderna said Monday that its vaccine is 100% effective against severe Covid-19. That's a huge positive given that just a few months ago there were concerns whether an effective vaccine could ever be developed.
Now, there is greater confidence of a stronger economic recovery in 2021 that will include hard-hit sectors like travel.
Bank of America economists predict global GDP will surge by 5.4% in 2021, the best year since 1973. US GDP is expected to increase by 4.5%, the strongest since 1999.
'A year of vaccine not virus, a year of reopening not lockdown, a year of recovery not recession,' Michael Hartnett, chief investment strategist at Bank of America, wrote in a note Monday.
The gap between rich and poor is getting wider
The market boom sends a positive signal that can encourage nervous consumers and corporations to spend instead of hunker down. That, in turn, can boost the real economy.
Yet the V-shaped recovery on Wall Street is another example of how the pandemic is worsening inequality. That's because millions of Americans don't get a boost from the market boom.
Only about half (52%) of American families have some level of investment in the market, mostly through 401(k)s and other retirement accounts, according to the Pew Research Center. Just 14% of households are directly invested in the market.
And the surging stock market is likely exacerbating the divide between rich and poor because affluent families have far more skin in the game.
As of the first quarter of 2020, the wealthiest 10% of American households owned 87% of all stocks and mutual funds, according to the Federal Reserve. The middle class, by contrast, owned just 6.6% of stocks, according to NYU professor Edward Wolff.
No matter who owns stocks, markets can't go up forever.
At some point, the vaccine optimism will all be priced in. The epic rebound on Wall Street — the S&P 500 is up a stunning 61% since the March 23 low — has driven up market valuations to levels unseen since the dotcom bubble.
Bank of America's Hartnett argued it would be 'silly to think big stock market gains from here' won't cause negative responses, including higher inflation, higher taxes and higher bond yields. That's why he's advising clients to 'sell into strength on vaccine in coming months.'
'We expect peak prices in early '21,' Hartnett wrote.
Deep Down | |
---|---|
Developer(s) | Capcom Online Games |
Publisher(s) | Capcom |
Producer(s) | Kazunori Sugiura Yoshinori Ono |
Engine | Panta Rhei |
Platform(s) | PlayStation 4 |
Genre(s) | Action role-playing |
Mode(s) | Single-player, multiplayer |
Deep Down (working title[1]) is a cancelled[citation needed] single/multiplayer co-op dungeon crawler, announced by Capcom for the PlayStation 4.
Gameplay[edit]
Deep Down is a single-player or (up to four player) co-op multiplayer dungeon crawl. Gameplay has been described as similar to both Capcom's own Dragon's Dogma; as well as the Dark Souls series, though with a lesser difficulty.[2][3] The historical sections of the game take place in a medieval/fantasy setting in procedurally generated dungeons, with the player equipped with suits of armor, swords, pikes, shields etc. Creatures encountered are from the fantasy trope, including ogres, shapeshifters similar to mimics (D&D), and dragons.[2][3][4]
Plot[edit]
The player perspective for Deep Down begins in New York City in the year 2094. The story focuses on a member of a group known as the 'Ravens' who has the ability to recover historical memories by touching ancient objects. This 'Raven' is brought into contact with excavated objects from a mysterious civilization in Bohemia (Czech Republic) dating from the 15th century and are asked to use their abilities to explore the city and discover its secrets.[2][3]
Development[edit]
At the February 20, 2013 PlayStation Meeting where Sony debuted the PlayStation 4, Capcom's Yoshinori Ono, best known for his work on the Street Fighter series,[5] revealed Deep Down alongside their new 'Panta Rhei' game engine, designed specifically for the PlayStation 4.[6]Deep Down was the working title, and Panta Rhei was announced to replace MT Framework as Capcom's game engine of choice.[6] The reveal trailer showed an armored warrior battling a medieval fire-breathing dragon.[7] They chose to make a new brand for freedom to explore next-gen video game console architecture, and so as to avoid limitations from consumer expectations.[5] The game did not have a presence at the E3 2013.[7]
During Tokyo Game Show 2013, Capcom producer Yoshinori Ono announced that Deep Down was to be a free-to-play title; the initial expected release date was to be in 2014 after a public beta coincided with the Japanese release of the PS4.[8] In early 2015, Kazunori Sugiura stated in an interview with 4gamer that the vision for the game had expanded since its initial 2013 reveal, to better appeal in the long term to players, and so the development timescale had been extended.[9]
In June 2018, Capcom extended the trademark for the game.[10]
During an interview with Eurogamer in November 2019 (primarily focused on Street Fighter V), Ono responded to a mention of Deep Down, saying that despite its long absence, the game '[has] not been completely given up on'.[11]
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With Ono's departure from Capcom in 2020, the release status of Deep Down is publicly unknown.[12]
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References[edit]
- ^'deep down | PS4 Games | PlayStation'. Retrieved 4 May 2015.
- ^ abcTuri, Tim (20 September 2013). 'Deep Down: Five Things We Learned Playing Capcom's Dungeon Crawler'. Game Informer. Retrieved 4 May 2015.
- ^ abc'PS4 Exclusive Deep Down Gets New Info: Greatswords, Memento Buffs; Online Corpse Looting and More', www.dualshockers.com, 29 Dec 2013
- ^'Deep Down vs Dark Souls II Screenshot Comparison: Do They Really Look That Similar?', www.dualshockers.com, 12 Jan 2014
- ^ abDring, Christopher (1 March 2013). 'Capcom: Resident Evil and Street Fighter would restrict us on PS4'. MCV. Intent Media. Archived from the original on 2013-08-01. Retrieved 1 August 2013.
- ^ abTach, Dave (20 February 2013). 'Capcom reveals Deep Down, built in engine designed for PS4'. Polygon. Vox Media. Archived from the original on August 1, 2013. Retrieved 1 August 2013.
- ^ abJackson, Mike (18 June 2013). 'Deep Down 'nothing to do with Dragon's Dogma', clarifies Capcom'. Computer and Video Games. Future Publishing. Archived from the original on 1 August 2013. Retrieved 1 August 2013.
- ^Jackson, Mike (22 September 2013). 'PS4 exclusive Deep Down is free-to-play'. Computer and Video Games. Archived from the original on 12 December 2014. Retrieved 4 May 2015.
- ^'今年,新タイトルを続々投入するカプコンのオンラインゲーム事業戦略とは? COGのキーパーソンである小野義徳氏と杉浦一徳氏にインタビュー'. www.4gamer.net (in Japanese). 19 February 2015. Retrieved 4 May 2015.
- ^'Deep Down: Capcom Extends Trademark Yet Again'. 2 June 2018.
- ^'What does the future hold for Street Fighter 5?'. Eurogamer. 6 November 2019. Retrieved 6 November 2019.
- ^https://www.playdiaries.com/yoshinori-ono-to-leave-capcom/
External links[edit]
- Official website(in Japanese)
- Deep Down on IMDb