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Wall Street’s eyes are on the election, its money not so much

Bloomberg
Bloomberg • 6 min read
Wall Street’s eyes are on the election, its money not so much
Most traders see volatility coming this week, possibly lots of it with the strong likelihood of a disputed result dragging the vote count out for weeks or even months. Photo: Bloomberg
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One trading session left. That’s all Wall Street has before Tuesday as US voters choose their next president, potentially determining the direction of the economy for the next four years.

Traders are buzzing about the possibilities, constantly checking the latest polls and moves in election betting markets to divine who’s ahead, Republican Donald Trump or Democrat Kamala Harris, and what that means for their positions. In some corners, speculation is that Wall Street is betting on Trump. But when it comes to actually putting down money in the stock market based on that, things are quiet. 

Investing pros know there’s a windfall to be made in calling the winner before it happens. Trouble is, this election is far too close for that, making the risk of a miss too high for many to stomach.

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