We’re only two and a half weeks away from finding out how the 2020 presidential election will end. I don’t know about you, but I’m ready for this election cycle to be over. Hopefully, we can get back to some sense of normalcy after all the political chaos of the last few months!
In the meantime, let’s dive into what we’re seeing going on today…
Here’s How the Election is Affecting Today’s Stock Market…
I’ve said it before and I’ll say it again, we’re currently in a tale of two markets. Some companies are making a killing during this pandemic. We’ve already talked about those companies in detail in previous newsletters. On the opposite side of the spectrum, we hear about those other companies that have been around for as long as any of us can remember that are being forced to close their doors.
In a sense, this market is a reflection of today’s society. You’re either successful or unsuccessful. The middle ground — and middle class — is dying and you’re either a winner or a loser. This is exactly why I continue to write about how the election is affecting today’s stock market. It’s hard to talk about ANYTHING today without it coming back to the presidential election and this political cycle. This does not exclude the markets!
But, even with the end of the election coming up, our hopes of a return to normalcy may not be as realistic as we had hoped. That’s because the election isn’t the only thing affecting today’s stock market. In fact, I might venture to say that our current environment IS our new normal. No matter the next president and no matter whether or not we get a dependable vaccine, things may never go back to the way they were before 2020. This could be a scary reality we have to face.
Today, I sat down with Joy of the Trade’s Jeff Zananiri to discuss these types of economic factors, how this election is affecting today’s stock market and exactly how I plan to trade it.