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Stocks rallied strongly yesterday, election day, and it brought up a lot of questions and rumors. By the close the Dow had gained 133-points and most indices saw gains over 1%.
Volume way very light in pre-Election day trading yesterday, and I'd expect more of the same today. The Dow turned a mostly negative day into some modest gains as it picked up 19-points on the day.
The October jobs report was released on Friday and the 171,000 jobs added and 7.9% unemployment rate initially sent stock futures and later stock indices higher. By the close it was a different story as most of the indices gave back most, if not all of Thursday's big gains. The Dow ended the day down 139-points.
It seems like it's been forever, but the big moment we've been waiting for the past several months is finally here. That would be the Presidential election, which will occur Tuesday. I think most would probably agree that regardless of who is elected for the next 4 years the market will almost certainly react, and quite possibly in a big way even if it's only for the short term.
So how are we positioned for this event? Perhaps not surprisingly we're not far from evenly split between
After a weather related shortened week, stocks saw some modest gains with TSP fund strength coming from the S and I funds. However, momentum may have turned bearish with Friday seeing 1% losses after Thursday's big gains.
On Friday, the October jobs report came in with a gain of 171,000 jobs, better than the 125,000 that was expected, but the the unemployment rate ticked up to 7.9%. Investors initially bought that news in early Friday trading, but