GREENSBORO, N.C. — Let's talk money and how a Presidential election, and one that is not decided, affects the market and economy not just here but all over the world?
“When Florida was about to be called for Trump we saw things start to mix around, we saw china went south there quickly and as the Election night got later and Trump made comments, the futures shot down quite a bit, but the day after Election Day, we look at the opening and around 11 AM and the DOW is up, “ said Scott Braddock of Scott Braddock Financial.
The DOW ended up 360+ points for the day. It was one of the strongest rallies after Election Day. But the longer the election takes, Braddock says we should expect more volatility. Not a surprise.
He pointed to this history lesson from Kiplinger.com. It shows how stocks perform with different parties of power. The best scenario is a 14% return with a Democratic President and split Congress. The best returns with a Republican President is with an entire Republican sweep.
“Historically, the first term of a Presidential candidate starts off lackluster and then towards the second half and then towards the second half the market seems to perform positive,” said Braddock.