Insana: The market is on a hot streak, and these factors – not the election

  • 📰 CNBC
  • ⏱ Reading Time:
  • 15 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 72%

Markets News

Dow Jones Industrial Average,NASDAQ Composite,S&P 500 Index

Multiple factors are driving the market's recent run, and it's not just the Nov. 5 election that's lifting shares.

With two weeks until the election, and a host of conflicting polls and divergent opinions on the state of the economy – I still have no idea who will win this year. I say this in the context of some prognostications made by two hedge fund billionaires: Stanley Druckenmiller and Dan Loeb. Both have opined that the rally on Wall Street underscores a growing belief that former President Donald Trump will win on Nov. 5.

Last week, the European Central Bank cut interest rates for the third time this year. Eurozone inflation has also declined below the ECB's 2% target. The U.S. remains the best performing equity market in the world, with the S & P 500 and the Nasdaq both up more than 22% in 2024.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines