There was one clear winner in Tuesday's election, and I'm not talking about the presidency.
Legal sports gambling swept victories everywhere it was on the ballot.
Voters approved sports gambling by a wide margin in Louisiana, Maryland, and South Dakota by comfortable margins.
It seems people love to bet on sports, and states love the tax revenues sports betting can generate.
And with the market rallying again, the best sports gambling stocks are due to surge even higher.
Stocks were at their lows for the year back in March when COVID-19 was spreading rapidly throughout the world for the first time.
It was a time of fear and panic in the financial markets as stocks fell about 35% from their all-time highs in February with little information to go on for the novel virus.
But then, the United States federal government went into their economic playbook and passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
This provided over $2 trillion in economic support to American workers, families, and small businesses.
In general, most of the stock market has reacted favorably.
Since the CARES Act was passed on March 27, the S&P 500 is up 30% to new all-time highs.
by Mike Stenger
Special purpose acquisition companies (SPACs) — also called "blank check companies" — have surged in popularity this year.
That's because they are formed solely for the purpose of buying private companies and taking them public, giving their shareholders the first crack at owning exciting new companies before the IPO.
We're going to share more about how this works in a moment.
We'll also help you learn how to invest in SPACs.
DraftKings Inc. (NASDAQ: DKNG) has taken a rocket ride since going public via a reverse merger with a blank check acquisition company earlier this year.
The stock has almost tripled as investors raced to cash in on the sports betting and online gambling business.
But there's more to this company than an app.
The Dow Jones fell more than 300 points this morning after the U.S. Labor Department revealed the number of people seeking unemployment benefits was 10% higher than expected.
Meanwhile, many leading financial pundits are starting to raise concerns about a bigger financial contraction than previously forecasted.
Here's everything moving the Dow today.
