financetom
Market
financetom
/
Market
/
Election Day Leaves Uncertainty as Investors Track Swing States
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Election Day Leaves Uncertainty as Investors Track Swing States
Nov 7, 2024 9:53 PM

09:48 AM EST, 11/05/2024 (MT Newswires) -- Investors will be keeping an eye on election results from key swing states in the US with the market likely to wobble through uncertainty until a clear result is known, according to analysts.

The benchmark Standard & Poor's 500, up 20% so far this year, was marginally higher early Tuesday, along with slim gains for the tech-heavy Nasdaq and the heavyweight Dow Jones Industrial Average. Vice President Kamala Harris, the Democratic nominee for president, has a scant lead over Donald Trump, former president and the Republican candidate for the top job, according to the RealClearPolitics national poll average.

"The US presidential election likely will be decided by a few thousand voters across a handful of swing states," Wells Fargo Investment Institute said in a note.

Swing states include Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin. RBC Capital Markets added Iowa to their watch-list of states, after a surprise opinion poll showed Harris ahead of Trump there.

Tariff-exposed consumer equities and renewables likely will outperform in the short term if Harris wins the presidency, while quality cyclicals could benefit from a Trump victory, Morgan Stanley analysts said in a note to clients on Monday.

It could take several days before the outcome of the vote is known, according to analysts. Scenarios for results include divisions between the parties in charge of the White House and the chambers of Congress, or single-party control of all segments of the federal government.

"Financial market volatility can accompany delays after Election Day but tends to fade as the economy typically quickly reasserts its role as the main driver of expected earnings," Douglas Beath, global investment strategist at Wells Fargo Investment Institute, said in a note. "A delayed election outcome is certainly possible, but we do not see delayed results having a lasting, negative effect on equity prices beyond a short bout of volatility."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Energy
Sector Update: Energy
Mar 28, 2024
03:25 PM EDT, 03/28/2024 (MT Newswires) -- Energy stocks gained late Thursday afternoon with the NYSE Energy Sector Index adding 1% and the Energy Select Sector SPDR Fund (XLE) advancing 1.2%. The Philadelphia Oil Service Sector index was up 0.6% and the Dow Jones US Utilities index rose 0.8%. West Texas Intermediate crude oil rose 2.1% to $83.08 a barrel,...
Sector Update: Tech
Sector Update: Tech
Mar 28, 2024
03:33 PM EDT, 03/28/2024 (MT Newswires) -- Tech stocks were mixed late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) up 0.3%. The Philadelphia Semiconductor index rose 0.1%. In corporate news, Palantir ( PLTR ) shares tumbled 6% as Monness, Crespi and Hardt downgraded the stock to sell from...
Sector Update: Energy Stocks Higher in Late Wednesday Afternoon Trading
Sector Update: Energy Stocks Higher in Late Wednesday Afternoon Trading
Mar 28, 2024
03:43 PM EDT, 03/28/2024 (MT Newswires) -- Energy stocks gained late Thursday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both advancing 1.1%. The Philadelphia Oil Service Sector index and the Dow Jones US Utilities index both rose 0.8%. West Texas Intermediate crude oil rose 2.1% to $83.08 a barrel, while the global...
Sector Update: Health Care
Sector Update: Health Care
Mar 28, 2024
03:36 PM EDT, 03/28/2024 (MT Newswires) -- Health care stocks were rising late Thursday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%. The iShares Biotechnology ETF (IBB) decreased 0.1%. In corporate news, Kodiak Sciences ( KOD ) shares tumbled nearly 30% after the company reported a wider-than-expected Q4...
Copyright 2023-2025 - www.financetom.com All Rights Reserved