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CNBC Daily Open: In this time of uncertainty, logic is driving market moves

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The fact that we can draw a line, however fuzzy, connecting cause to effect suggests investors are scrutinizing earnings and news in a period of uncertainty.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeon Thursday. Following the news, shares of Tapestry jumped 13.7% while Capri plunged 45.1% in extended trading.

The influence of the meridian sunspot over the rising moon, for instance, could cast a shadow over the S&P and cause it to slip. Of course, those are oversimplifications. There were other reasons behind market movements yesterday. But the fact that we can even draw a line, however fuzzy, connecting cause to effect suggests investors are scrutinizing earnings and news in a period of uncertainty, caused by the U.S. elections.

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