Wall St slips as uncertainty surrounds U.S. election
Mon November 4, 2024 6:16 PM
Most of the market spent most of the day in the red as the indexes bounced up and down in the red like crazy over election uncertainty. Wall Street favors Trump so when the new Iowa poll (that always goes Republican) came out favoring Harris, the indexes kept going down. One hour there would be good news about Trump, the next about Harris, not a good day for trend-followers. Uncertainty was heightened by the wide expectation that it will be at least a few days before a victor is declared.
Trump Media bounced back and forth between early losses and a 12.3% gain by close. The week is expected to be very volatile. The VIX is 2 points above the long-term average. As today’s expert put it, “Earnings are going well, the Fed is still likely to cut interest rates, the only true uncertainty is the election, and hopefully that will be finalized sooner rather than later so investors can go back to investing.” Volume was just a tad below the 11.7 billion average, coming in at 11.3 billion.
DJ: 42,052.19 +288.73 NAS: 18,239.92 +144.77 S&P: 5,728.80 +23.35 11/1
DJ: 41,794.60 -257.59 NAS: 18,179.98
-59.93 S&P: 5,712.69
-16.11 11/4
No comments:
Post a Comment