The View from 5th Avenue

The View from 5th Avenue – 9 November 2022

Knowing that stocks go up after elections, regardless of the party in power, should have kept investors tuned in to earnings and macro data today. But, as we all know markets absolutely despise uncertainty---the “not knowing” causes sentiment to falter. After 3 days rallying and an historic surge in October, markets staged a meaningful pullback, while waiting on just three states to determine whether the US would swing red or blue. But the election wasn’t the only show in town.

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