- Stocks poised to break losing streak ahead of Election Day. U.S. equities are markedly higher as Americans prepare to head to the polls tomorrow. Looking back at Friday, the S&P 500, Dow, and Nasdaq all lost 0.2%. This was the ninth consecutive decline for the S&P as the consumer staples sector (-1.0%) led the shallow retreat; healthcare (+0.8%) outperformed, while no other sector moved more than half a point. Overseas on Monday, the Nikkei gained 1.6% on a weaker yen, the Shanghai Composite tacked on 0.3%, and most major European indexes are between 1.5 to 2% higher in the risk-on environment. Accordingly, the dollar is up and COMEX gold ($1282/oz.) is down, WTI crude oil ($44.30/barrel) has found a bid after touching six-week lows overnight, and the yield on the 10-year Treasury note is up five basis points to 1.82%.
- It’s all about the election this week, as…
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