Reported 4 months ago
The S&P 500 has been rising alongside former President Trump's election odds, with the market becoming increasingly correlated to his chances of winning as they move higher, according to LPL Financial Chief Technical Strategist Adam Turnquist. In contrast, President Biden's odds have remained negatively correlated to the market. The correlation has strengthened as Trump's odds eclipsed Biden's, indicating the market may be warming up to a potential Trump victory in the upcoming election. Additionally, large-cap tech stocks have been lagging, raising questions about the sustainability of the rally and the market's overall performance.
Source: YAHOO