Most Americans are hanging on to the hope their candidate in the Presidential election will be victorious. Expect a huge spike in emotions when the reality hits those that are wrong.
The market views the Blue Wave as short-term neutral but long-term negative, as the expected Biden tax policy outweighs the benefits from a larger than expected stimulus package. SPX may have upside to ~3400, but it would have larger downside to ~2,500.
"The election outcome will drive all markets over the next day or two. How they move depends on the extent to which we have clarity about the results."
Analysts look divided concerning U.S. new vehicle sales in October after they rebounded by 90.4% MoM since April (Wards data). According to the Bloomberg consensus, they should rise to 16.50m(e) SAAR, up from 16.34m in September.