Stocks jump on Election Day as investors eye outcome
Tue November 5, 2024 4:32 PM
Today was another vivid demonstration of the schizophrenic nature of this market since, though little has changed since yesterday’s big slide, today there was a really big rally as the market decided the odds were once again favoring a Trump victory. It was a steady upward swing from the open to close with chunky 3-digit gains all around. But have the odds really changed at all since yesterday? All the polls still show an exceedingly tight 50/50 race.
Even the Trump Media shareholders experienced wild swings throughout
the session between 8 and 18%, even being halted multiple times because of these
big swings. This would seem to indicate that even these shareholders, considered
a major metric of Trump support, are anything but certain. In other words, they
are same as the rest of the market and rest of the country. The VIX remains
above average but has come down 4 points from its two-month high last week. Volume
came in at 12.8 billion, above the 11.7 average.
DJ: 41,794.60 -257.59 NAS: 18,179.98 -59.93 S&P: 5,712.69 -16.11 11/4
DJ: 42,221.88 +427.28 NAS: 18,439.17 +259.18 S&P: 5,782.76 +70.07 11/5
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