To electoral observers who are heavily invested in the partisan outcome of the US elections, the delays in counting and free-wheeling allegations of fraud are enough to make November 2020 feel like the apocalypse. So why have stock prices gone on another tear?
NEW YORK – Even though uncertainty about the outcome of the US presidential election is likely to drag on, the stock market has been rallying. Provided that the election is decided within weeks – rather than months – and that both candidates ultimately accept the outcome as legitimate, business sentiment and household optimism can be expected to remain robust. Indeed, the only surprise this week is how close the Electoral College contest turned out to be. The delay in counting the votes was to be expected, and market ebullience and positive economic sentiment are in keeping with previous trends.
NEW YORK – Even though uncertainty about the outcome of the US presidential election is likely to drag on, the stock market has been rallying. Provided that the election is decided within weeks – rather than months – and that both candidates ultimately accept the outcome as legitimate, business sentiment and household optimism can be expected to remain robust. Indeed, the only surprise this week is how close the Electoral College contest turned out to be. The delay in counting the votes was to be expected, and market ebullience and positive economic sentiment are in keeping with previous trends.