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.
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