Markets Focus on Midterm Outcomes

(11/8/22) Markets rallied Monday, coming off critical support at the 20-DMA following Fed Chair Powell's hawkish comments last week. A new CPI print will be released On Thursday, and if it's hotter than expected, that could weigh on stock prices as the Fed is encouraged to hike interest rates further. Markets' focus today, however, it the outcome of the Midterm elections, and what Wall Street would like to see is Congressional Gridlock. Markets achieved a close just above the 50-DMA on optimism Republicans might re-take at least one house of congress today. Additional factors could lift stocks as the end of the year approaches, including stock buyback activity and portfolio rebalancing by managers looking for a good finish to 2022.

Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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