Stocks climb as voters head to the polls

0

It’s finally here. Stocks are choppy on decision day as voters head to the polls. Will tomorrow bring elation—or pain—for the markets? Catch The Final Round at 4 p.m. ET with Yahoo Finance editor-in-chief Andy Serwer and columnist Rick Newman.

Winners and losers

Stocks getting hit on Election Day include CVS after the drugstore operator slashed its full-year forecast citing slowing prescription growth, Valeant after a bad earnings and revenue miss, plus cutting its full-year guidance for a second time, and Hertz, with shares deep in the red after a bad earnings miss and a cut to its outlook for the year. You might recall that Hertz was plagued by accounting issues last year.

Stocks on the winning side today include SeaWold as revenue for the theme-park operator topped estimates, Toyota as the automaker topped profit estimates despite the effects of a strong Japanese yen, and Priceline, with shares cruising higher after the travel site operator reported a top and bottom line beat, as well as bookings that topped estimates.

The election effect on the markets

Joining The Final Round for more on the election’s effect on the markets and what a contested election could mean is Dan Clifton, partner and the head of policy research at Strategas Research Partners.

The economy and the political divide

To further discuss the economy’s impact on the election, we are joined by Vincent Reinhart, chief economist at Standish Mellon Asset Management and former economist at the FOMC.

Looking ahead

  • In the morning we’ll get a read on the housing sector with MBA’s mortgage application report. Last week the index dropped 1.2%.

  • At 10 a.m. ET we’ll get wholesale trade numbers for September. The Street’s looking for inventories to climb 0.2%.

  • A half hour later, the EIA will release its petroleum status report. Last week crude inventories jumped by 14.4 million barrels.

Advertisement