No Debate for Stocks

Wall Street has assumed that Clinton will win the election in November. This was the case even as polls have drawn to a near dead heat coming into the first debate. Thus, a clear win by Trump on Monday night would have sent investors back to the drawing board.

That won't be necessary at this time as Clinton was the victor of the debate with one poll showing a dominant 62% to 27% advantage. This increased Wall Street's confidence in a Clinton victory leading to a healthy rally for stocks.

Don't take this to mean that Wall Street prefers Clinton or the Democratic party. This is simply a statement that investors prefer clarity on the outcome of these important events.

On the clarity front, I think investors are jumping the gun. Let's not forget that Mitt Romney was the winner of the first debate over President Obama. That tide turned quickly after the 2nd debate and Obama sailed to an easy victory. Meaning that it's still a close race where the national polls mean very little compared to what happens in just 3 populous toss up states (Florida, Ohio and Pennsylvania) that will determine the final outcome.

Putting it altogether, expect more volatility into the election, which provides another great opportunity to pick up your Zacks #1 Ranked stocks at better prices.

Best,

Steve Reitmeister

Executive Vice President, Zacks Investment Research

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