Ballot counting may drag on. Here’s what to expect.
The election is still undecided, but the market made a decisive move higher today, adding to the gains of the week. The state of the race remains fluid with neither candidate hitting that magic number of 270 electoral college votes.
Close results in a few states threaten to hold up the process. The Trump campaign has already filed a lawsuit in Michigan to halt ballot counting, the campaign also plans to call for a recount in Wisconsin.
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If there is a contested election, political analysts expect the winner to be known by the “safe harbor” deadline of December 8th. It could take even longer to know who won key congressional races, which so far suggest the Democrats and Republicans may be heading for a tied senate.
Generally speaking, markets have performed best under divided government — when one party has only partial control of the House, Senate and presidency. Simply put, the view is that gridlock in Washington can be good for stocks because it lowers the chances of sweeping policy changes, such as tax increases, that might hurt profits.
Today’s gains could be an embrace of a result that would put Biden in the White House but leave Republicans in charge of Senate. However, analysts have cautioned about extrapolating a clear signal from the gains, as the outcome of vote counting may continue to whipsaw markets as the election results are tallied over hours and perhaps days.
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It’s still too early to tell where we are headed in regards to the change in power in Washington. However Paul Mampilly, who has correctly predicted every boom and bust over the last two decades, recently gave astonishing insight. He is predicting an economic upgrade for the United States, the likes of which have never been seen. “Those who position themselves at the forefront of America 2.0 will experience more prosperity than they ever thought possible,” he stated in an interview with John Daly.
Paul’s track record speaks for itself, see for yourself in this article. Now he is predicting an event so big, lives will change. Investors who get in ahead of the game may see huge gains in the not so distant future. Find out what Paul is saying and how you too can position yourself for greatness ahead of America 2.0. Click here to continue to the article.
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