Investors readied for a high-stakes U.S. presidential election.
between former President Donald Trump and Vice President Kamala Harris. Close attention also remains on which party dominates Congress, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy.
The results could heavily affect where stocks end the year, but investors may want to brace for some near-term choppiness. CNBCsuggests the major averages gain between Election Day and the end of the year, but typically fall in the session and week after. Uncertainty over the results could lead to even more shakiness in the market.
"The setup is still skewed to the positive and the bull cases is still intact, unless we get a new policy from a new political regime that looks like it's going to be more austere," Trivariate Research founder Adam Parker said Monday on CNBC's"Beyond the election, investors await the Federal Reserve's November rate decision due Thursday and fresh commentary from Chair Jerome Powell on the central bank's policy moves going forward.
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