Citigroup: The Market is Most Concerned About is Not the Election, U.S. Stocks Likely to Hit New Highs

BlockBeats News, November 5th: A Citigroup analyst said that elections often have a significant impact on pre-election market trends, but traders this year seem to be more focused on other matters. The analyst pointed out that several market indicators that usually flash before a U.S. election are notably calm this year, indicating less concern about the election's impact on the market compared to previous years. They believe that traders are not focused on the election but rather on the U.S. economy and earnings season.

The analyst stated that the strong performance of the U.S. stock market in the weeks leading up to Election Day may be driven by the strong U.S. economic conditions rather than investors positioning themselves in a "Trump trade" or "Biden trade." As in previous years, the stock market is likely to rebound after the election. They indicated that due to robust performance reports from most companies in the latest earnings season, the current market positioning is likely to lead to a post-election rebound on November 5th and potentially push the market to new highs in the new year. (FXStreet)