Brace Yourself: Election Week is Here
In this article, I’ll provide insights into the stock market for the week of November 4. I’ll cover the impact of the U.S. presidential elections, offer key insights for crude oil prices, and highlight exciting earnings picks for this week. Premium customers can also access my high-conviction picks.
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Brace Yourselves: Election Week is Here
Get ready for a wild ride! Election week is upon us, and the markets are bracing for impact. Sure, we’ve got some big-name earnings coming down the pipe – think Palantir Technologies (PLTR), Cleveland-Cliffs (CLF), NXP Semiconductor (NXPI), BioNTech (BNTX), and a whole host of others set to drop numbers on November 4th. But let’s be real; everyone’s attention is already fixed on the main event: the U.S. presidential elections.
Election Day: The Main Event
Come Tuesday, November 5th, all eyes will be glued to the screens as the results roll in. But amidst the political drama, don’t forget to keep an eye on those economic indicators. The S&P Global Services PMI for October is set to drop, with expectations of a slight uptick from 55.2 to 55.3. And let’s not forget the ISM Manufacturing PMI – consensus is it’ll take a bit of a hit, sliding from 54.9 to 53.3.
Jobless Claims and the Fed: What to Expect
Thursday brings a fresh round of Initial Jobless Claims, with forecasts hinting at a modest bump from 216K to 220K. However, the real fireworks could come later that night as the Federal Reserve weighs in with its interest rate decision. The smart money is on a 0.25 bp cut to 4.75%. But here’s the thing – even the Fed might be unable to sidestep the election drama entirely.
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Election Analysis: Cutting Through the Noise
In my last piece, I dove into how a potential Trump win could shake up the markets and which sectors could come out on top. Today, I’m taking a closer look at the lay of the land as election day looms. And here’s what jumps out: despite the media onslaught against Trump (we’re talking a staggering 85% negative coverage), his odds are still outpacing Kamala Harris.
The 2024 presidential election has been a media circus for the ages. But amidst all the noise, what matters? Let’s cut through the spin and get down to business. Harris is basking in the glow of a 78% positive media spotlight (the data as of October 28, 2024). Below, I tried to analyze why we witness such a vast disparity. Let’s dive into the possible reasons behind this striking difference in media portrayal.
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Diving into Exciting Picks for This Week