E Market Briefing For Tuesday, Nov. 24

Backdrop optimism - combined with significant political appointments over the weekend or Monday, by President-Elect Biden. Combined with progress (or perception at least) regarding vaccines and what we see as very important 'antibody therapeutics' (proven by prominent 'observational trial participant' as President Trump was essentially saved by the Regeneron drug (REGN)). This tends to stabilize and further firm S&P (SPX), as did the post-close recanting by GSA.

As you know, GSA had held up federal resources amid Trump’s frenetic legal challenges to election results. GSA late today sent a letter to Joe Biden giving approval to fund the transition, which also averts legal challenges by his team which wisely calmly stayed on the back burner during the ongoing controversy (and for some reason wasn't reported having occurred on some live programs giving viewers clues as to what is really live, or at-least partially pre-recorded).

Emily Murphy, the reluctant GSA head who resisted, stated that it is not fear or intimidation but strong belief her role requires her to determine her decision based what she believes are the true facts having reviewed the Election.

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