The stock market has been on a record run, and with the presidential election just under five months away, analysts and experts have begun reading the tea leaves regarding its implication for the election outcome.
What Happened: The recent change in the presidential polling trend is under the radar for potentially driving the market’s run, said CNBC host Brian Sullivan in the Last Call show on Monday. He also pointed out the positive correlation between the S&P 500’s performance over the past three months and odds predicting a [Donald] Trump victory over the same time frame.
“Both charts look awfully similar as more and more people said that Trump is likely to return to the White House,” he said.
Jefferies chief market strategist David Zervos, who joined Sullivan on the show said the outcome of the Nov. 5 election would hinge on the differences in policies under a potential Trump or [Joe] Biden presidency, namely monetary, fiscal, trade, regulatory, and even immigration. There are going to be subtle differences between the two in many of them. But the big differences are going to ...