Wall Street Is Counting on Stocks to Rally After Election Hurdle

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 41 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 69%
  • Publisher: 50%

Business Nouvelles

Company News,Elections,Financials

A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&P 500 Index.

Alexandra Semenova, Bloomberg NewsStrategist John Stoltzfus explains whether investors should take action ahead of the U.S. election or wait out for election results.

Of course, it’s anyone’s guess how long it will take to get a clear result after the vote ends Tuesday, for both the presidency and the makeup of Congress. Vice President Kamala Harris and former President Donald Trump have been running neck-and-neck in the polls, which has helped curb risk appetite over the past few weeks.

To Morgan Stanley’s Wilson, the election could serve as a “clearing event” that kicks off a year-end rush into stocks. He sees scope for the S&P 500 to reach 6,100 in that period, a roughly 5.5% gain from Tuesday’s close of 5,782.76. When it comes to the final weeks of presidential election years, how the S&P 500 fares in the days before the decision matters more than which party takes the White House, according to Jefferies strategists led by Andrew Greenebaum.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 83. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Wall Street opens lower as Big Tech stocks pull backNEW YORK (AP) — Wall Street is feeling the downside of high expectations as Microsoft and Meta Platforms lead U.S. stock indexes lower despite delivering strong profits for the summer. The S&P 500 was down 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street holds steady as Shanghai stocks suffer worst drop since early COVIDNEW YORK (AP) — U.S. stocks are holding relatively steady following the latest scary swerves for Chinese markets. The S&P 500 slipped 0.1% in early Wednesday trading.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Asian Stocks to Rise After Wall Street Win Streak: Markets Wrap(Bloomberg) -- Most Asian stocks are poised to rise in early trading Monday after Wall Street finished last week on fresh highs. Most Read from BloombergA...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Asian Stocks Advance After Tech Lifts Wall Street: Markets Wrap(Bloomberg) -- Equities in Asia climbed Wednesday after a tech rally lifted Wall Street and bets on Federal Reserve rate cuts stabilized.Most Read from...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Premarket: European stocks steady after Wall Street record, oil prices slumpChina stocks tumble on government borrowing report
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Wall Street Strategists Say Jobs Surprise Bodes Well for Stocks(Bloomberg) -- Two of Wall Street’s top strategists have turned more optimistic about US stocks on signs of a robust labor market, economic resilience and...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »