E Market Briefing For Tuesday, Oct.27

In-sum: weekend comments from Chief of Staff Meadows were really candid, about COVID, whether entirely accurate or not. That plus polls (valid or not) for sure had a sobering effect on markets, and possibly capital gains type selling that would result, if one believes a Biden victory is forthcoming.

This has nothing to do with whether one favors Biden or not, just the market's interpretation based on their call for higher taxes or also higher Capital Gains possibly retroactive to a January 1 of 2021 date. Meanwhile decent earnings in many major issues has and will contribute to stability, possibly later this week, but in a tenuous way.

Bottom-line: the market wants a clear outcome for the Election, uncontested so we know what strategies make sense looking forward.

 

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