On Wednesday, rising hopes for a coronavirus fiscal stimulus deal overshadowed a vicious presidential debate, sparking a broad rally on Wall Street. Meanwhile, investors also cheered better-than-expected jobs data as well as a record surge in pending home sales.
Still, a chaotic debate Tuesday evening raised concerns about a drawn-out electoral outcome hitting the market into year-end.
"It became pretty apparent that this thing is not going to be over on Nov. 3 and I think the market is probably not too crazy about that,” said Daniel Deming, managing director at KKM Financial.
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