Post-Election Highs and What’s Next for Investors
November 2024
November 2024
The much-anticipated U.S. elections are now in the rearview mirror, with stock markets reaching new all-time highs. It appears Republicans have taken control of the White House and both chambers of Congress, though results for the U.S. House of Representatives are not yet finalized.
For a deeper look at key takeaways, we recommend reading this summary from J.P. Morgan on what the outcome could mean for markets and policy:
Generally, the election unfolded smoothly, avoiding the drawn-out disputes many had feared. Markets are now focused on agenda items like reduced regulation, an extension of the 2017 tax cuts, and the possibility of new tariffs. With political clarity, risk appetite has risen, and cash on the sidelines is moving back into the market.
Our guidance remains the same in up markets as in downturns: stay within your personal risk comfort level and maintain a diversified portfolio. We caution against making major investment shifts based solely on political outcomes.
The U.S. economy remains steady, and the Federal Reserve implemented another interest rate cut last week, though mortgage rates are still high. Corporate profits from Q3 have modestly exceeded expectations.
As we move forward, we continue to watch inflation trends, fiscal deficits, and tax policy closely, as they’re likely to shape investment outcomes in the months ahead.
Read the full J.P. Morgan election analysis here
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