Wall Street Breakfast Debt weighs on voters on Election Day
Nov 5, 2024
Debt is dominating the minds of American voters as they head to the polls, raising questions about its impact on the economy. Meanwhile, investors are speculating on potential winners in the presidential race. In corporate news, the Boeing strike wraps up with a new contract, while Viking Therapeutics sees a volatile day following mixed results on obesity drug data. Market movements reveal a shift in investor sentiment as earnings reports roll in, highlighting the intricate dance between politics and finance.
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Debt Tops Voter Economic Concerns
- Seeking Alpha subscribers ranked debt as the top economic concern, with 44% naming it their biggest worry.
- The rise in debt stems from pandemic spending and entitlement program pressures that pushed national debt past $35 trillion.
Clear Election Outcome Calms Markets
- Markets strongly prefer a clear, unambiguous presidential outcome to avoid volatility.
- Past uncertainty, like 2020's delayed outcome, caused a roughly 10% S&P 500 drop during the drawn-out result.
Watch Swing States To Gauge Market Risk
- Prepare for market stress if the election result is contested or delayed.
- Monitor key swing-state counts and legal developments that could extend uncertainty and pressure stocks.