Election Roadmap Update (What’s It Means for Markets?)
It’s been a very late night and a very early morning and much of this analysis has been changing by the hour, and as such hasn’t been edited. Please forgive any excessive typos.
What’s in Today’s Report:
- Election Roadmap Update (It’s All About Tier 3 Now)
- Three Key Takeaways from Last Night’s Election (No Blue Wave But Maybe a Contested Election)
- What’s Next: When We Can Expect Results From the Six Remaining States
Futures have gyrated wildly throughout the night on the shifting election outlook but as of this writing they are marginally higher.
In the Presidential election numerous (seven) states remain undecided and the Presidential race is very close.
Republicans have outperformed in Senate races and are now favored to hold the majority, likely yielding a divided government.
Today focus will remain on the election and specifically when the remaining six states (NC/GA/PA/MI/WI/NV) are called.
Outside of the election, we also get the ADP Employment Report (E: 600K) and the ISM Services Index (E: 57.6), but while important reports, they’ll be overshadowed by the election headlines, and we need to be prepared for a lot of “noise” and intra-day volatility.