5 things financial observers should watch Tuesday night that aren't Trump vs. Harris

Published On Nov 5, 2024, 11:52 AM

Financial observers are urged to focus on several key areas during the election night that may influence future economic policies. Key topics include exit polls that gauge public trust in the economy, the performance of pro-crypto candidates, and the fate of influential Senate races, particularly for the Senate Banking committee. The results may also reflect on cannabis legalization measures across several states, which could impact future federal legislation on cannabis banking. Lastly, the overall control of Congress could play a significant role in determining the success of economic agendas in the coming years.

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Stock Forecasts

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Positive

The cryptocurrency sector could potentially see legislative support if candidates with pro-crypto stances succeed. This might result in positive momentum for crypto-related stocks or ETFs.

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Negative

Sherrod Brown's seat is vital for banking regulation discussions. If he loses, banking institutions may take a negative stance, impacting stocks like JPMorgan Chase (JPM).

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Positive

Increased acceptance of cannabis could lead to more investments in cannabis companies or ETFs, making a favorable market for those associated with the cannabis sector.

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