Now what are we going to talk about? With mid-term elections now behind us, investors will have to find something else to worry about, and fortunately (or unfortunately depending on how you look at it), there’s no shortage of issues. Don’t forget, the FOMC kicks off a 2-day meeting today!
With the election results coming in basically just as the consensus had forecast, there wasn’t much in the way of shock in last evening’s results, although both sides are out there claiming victory (justifiably) with Democrats taking control of the House and Republicans gaining a stronger foothold in the Senate. Get ready for gridlock!
With S&P 500 futures significantly higher (+0.75%) this morning, the S&P 500 is on pace to trade back above its 200-DMA for the first time since 10/22. If it can hold above this level throughout the trading day, it will be a big psychological victory for bulls as the market looks to recover from October’s correction.
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