Stock futures rise slightly after Tuesday’s rally as traders await U.S. election results

first_imgElection officials count absentee ballots at a polling place located in the Town of Beloit fire station on November 03, 2020 near Beloit, Wisconsin.Scott Olson | Getty Images – Advertisement – This week’s market moves come as investors hoped a delayed, or contested, U.S. presidential election result would be avoided and a clear winner would emerge Tuesday night.“This most recent uptick in prices seems to be a ‘clarity rally’ as investors look forward to finally having the election uncertainty overhang removed,” Adam Crisafulli, founder of Vital Knowledge, wrote in a note Tuesday.Former Vice President Joe Biden held a 10-point lead nationally over President Donald Trump, according to an NBC News/Wall Street Journal poll released Sunday. Wall Street is also watching some key Senate races, which could lead to Democrats taking control of Congress.- Advertisement – Stock futures rose slightly on Tuesday night following a sharp rally during regular trading while investors awaited the result of the presidential election.Dow Jones Industrial Average traded 131 points higher, or 0.5%. S&P 500 futures gained 0.4% and Nasdaq 100 futures advanced 0.3%.Earlier in the day, the Dow popped more than 500 points, or 2.1%. The S&P 500 gained 1.8% and the Nasdaq Composite advanced 1.9%. Those gains added to Monday’s strong performance.- Advertisement –center_img Investors are betting that a so-called blue wave — a scenario in which Democrats win the White House, obtain a Senate majority and keep control of the House — could facilitate the passing of new fiscal stimulus as the economy continues its recovery from the coronavirus pandemic.“I think that no matter who wins, you have a quick dip and you have to buy,” CNBC’s Jim Cramer said earlier on Tuesday.The S&P 500 lost 0.4%, on average, the day after presidential elections, according to Baird.Chao Ma of the Wells Fargo Investment Institute thinks investors with a longer time horizon should not worry too much about the election’s impact on the broader market.“The history of the economy and the S&P 500 Index suggests that a president’s party affiliation has made little difference when it comes to long-term returns,” said the firm’s global portfolio and investment strategist. “The long-term drivers of the S&P 500 index have been the economy and business earnings, and we expect that to continue to be the case … beyond the 2020 elections.”One year out from a presidential election, the S&P 500 averaged a return of more than 8%, according to the Baird data back to 1960.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. – Advertisement –last_img read more

Richard Carter – How SBTech is solving Mansion’s vertical challenge

first_imgShare Submit Kambi takes control of Churchill Downs BetAmerica sportsbook August 28, 2020 Share StumbleUpon Related Articles FDJ’s ParionsSport launches sponsorship programme for French amateur football August 24, 2020 SBTech CEO Richard Carter spoke to SBC about the major new deal announced this morning which sees the company bring on major brand Mansion as a client which and also herald the launch of Mansionbet. SBC: This is a pretty major deal – how did it come about?Richard Carter: As a group Mansion was looking to move into sports betting. It is well established as a gaming brand but has never really ventured into the betting vertical and was looking for a tier-1 sportsbook platform to harness the exposure it has gained in the UK through major sponsorship deals it has had over the past 10-15 years.The fact that Mansion is able to build on this strong brand awareness means players will see the Mansionbet name and know it is part of a well established and trusted gaming company group that has been investing significantly in UK sports sponsorship over many years.SBC: Why is the SBTech solution so well suited to Mansion’s brand?RC: Speed to market, flexibility,  and a powerful BI and sportsbook engine are just some of the strengths we offer as the leading supplier of sports betting and gaming solutions to the industry.These features, combined with the fact that we are 100% regulation-ready and also provide a full platform solution that includes casino, mean operators are always contacting us to discuss new projects and launches.SBC: How much of a competitive advantage is having casino, sportsbook and platform from the same supplier?RC: As mentioned above, this is a key feature of SBTech’s offering and a major differentiator when compared to other platform suppliers. The fact that Mansion is able to run its flagship brand across the two key verticals of sports betting and casino is a major plus for all parties: significant efficiencies are achieved thanks to integration being carried out once across the platform; operationally the group can organise and manage all the different elements of its offering via a single back end.SBTech is unique in being able to provide these services and is a major reason why we have grown so much in recent years.SBC: It’s a great way to start off the year – do you have more in the pipeline?RC: Thank you and, yes, we are preparing to launch a number of major new clients across regulated markets such as Denmark, France or Spain in the coming months; of course not forgetting the US market potentially coming onstream later this year.SBC: How has M&A, both from an operator and a supplier perspective, changed the supplier market? Are there more or fewer opportunities?RC: M&A has always been part of the industry and while there are different challenges in 2018 to what we might have encountered 10 years ago, both operators and suppliers have learnt to adapt and grow in these new environments. The prospect in 2018 (and beyond) of a regulated online betting and gaming sector across many major regions presents SBTech with a fantastic opportunity to further consolidate its place as the leading platform supplier in the industry. Vbet sponsors AS Monaco as Ligue 1 kicks off new season August 24, 2020last_img read more