People wait in line to vote at a polling station at Greater Galilee Baptist Church on Election Day, in Charlotte, North Carolina, located within Mecklenburg County, on November 5, 2024.
Grant Baldwin | AFP | Getty Images
My top 10 things to watch Tuesday, Nov. 5, Election Day
1. Wall Street was looking slightly higher ahead of the open on Election Day despite rising bond yields. As I wrote on Sunday and we explored further Tuesday, the most important thing facing the stock market is knowing the winner of the presidential race as quickly as possible to avoid volatility.
2. Goldman Sachs top stock market strategist David Kostin is talking about the highest concentration in the fewest names in 100 years. Even more concentrated than the tech bubble. I would say the tech bubble was made up almost exclusively of companies that didn’t make money.
3. Boeing machinists approved a new four-year labor contract that includes 38% pay raises. The vote brought an end to a more than seven-week strike that had all but halted aircraft production and was costing about $100 million per day in lost revenue.
