If there’s one thing Wall Street hates, it’s uncertainty. And traders certainly received a lot of it over the last month. October was one for the record books as wild price swings and volatility increased to levels not seen in years. While there were many causes for concern – from trade to cautious guidance – one of the biggest pieces of uncertainty came from the midterm elections.
The political climate in the U.S. has been pretty tumultuous over the last few years and the midterm elections were quickly becoming a fast point. Aside from the social implications, Wall Street was worried about just what could happen to the various policies that have helped spur the market higher over the last few years. That made for a bumpy ride.
But with the results in, Wall Street is smiling.
The outcome couldn’t have been better for traders and investors. With the election results now in, much of the uncertainty is gone and that means we can plan for the months ahead.
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