Stocks are higher across the board on Wednesday, on hopes that a stimulus deal could still happen ahead of Election Day.
That said, while the picture might look brighter than it did Tuesday, there is no agreement on a stimulus package, and “investors should expect greater market volatility until a deal can be reached,” notes Michael Arone, chief investment strategist for the U.S. SPDR business at State Street Global Advisors.
Indeed, volatility may be the only constant in the coming weeks. “Markets have been struggling to find a clear direction in recent weeks due to a lack of positive catalysts and a rising number of uncertainties dampening the market mood,” Milan Cutkovic, market analyst at AxiCorp. wrote. “Volatility is only going to increase ahead of the U.S. Election Day, and the rally is on shaky legs.”
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