Tuesday, November 8, 2016

Watching the Ballot Box

Election Day is finally here, and it's having an effect not only on the myriad TV commercials we've had to suffer through by the stock market as well. The Wall Street Journal identified three stocks whose investors are watching the ballot box:
  • Western Union rose 3.5 percent on Hillary Clinton's rise in the polls: Remittance fees from immigrant workers in the U.S. sending money home are a major source of income for the company — a business that would be at risk if Donald Trump wins.
  • Gun-maker Smith & Wesson Holding, which gained 2.4 percent. History suggests a win by Clinton will spur a pickup in gun sales to people worrying that firearm sales might later be restricted.
  • Corrections Corp. of America fell 0.7 percent on worries that the for-profit prison industry would find itself in a President Clinton’s crosshairs.

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