Former President Donald Trump survived an assassination attempt on Saturday at an election rally in Butler, PA, an event that fueled a market rally (^DJI, ^IXIC, ^GSPC) and positive sector moves over the weekend.
UBS Global Wealth Management co-lead of ElectionWatch Tom McLoughlin joins Catalysts to discuss the potential impact on the upcoming election and financial markets.
McLoughlin suggests that while the assassination attempt will have "a little bit of staying power" throughout the remainder of the 2024 election cycle, its influence may be less significant than initial reactions suggest. He notes that historically, candidates who survive assassination attempts do experience a temporary boost in polls, but "it tends not to last."
"Sooner or later, we're going to get back to the overriding issues in this election," McLoughlin explains, citing economic concerns, regulatory matters, and tax policies as key factors. He emphasizes that "these overarching factors... will become more important over time."
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Addressing the implications of this political unrest for voters, McLoughlin says, "The country's obviously very polarized at this point, and you see individuals on the left and on the right basically digging into their positions." He adds: "The number of voters who are completely undecided and are able to swing to one candidate or the other is diminishing, but they are the most important voters today."
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Angel Smith