With the 2024 presidential election just around the corner, the race between Kamala Harris and Donald Trump is shaping up to be one for the history books. Polls indicate an extremely tight contest, with Harris and Trump each making whirlwind stops across critical swing states. Each campaign is working overtime, with both candidates rallying support in battleground regions while making their final appeals to voters.

For Vice President Harris, the focus is on her economic platform, which emphasizes job creation, wage growth, and measures aimed at stabilizing inflation. She hopes to win over voters by promising a proactive approach to strengthening the economy, especially for working families. Meanwhile, former President Trump has once again raised concerns about the electoral process, making claims about potential election fraud in his speeches. The rhetoric from both sides is setting the stage for a nail-biting finish.

Both teams are also preparing for what’s next. The Harris campaign is laying out the groundwork for a possible government-in-waiting, putting together a list of key officials and advisors to take the helm if she wins. Similarly, Trump’s team is drafting their lineup in case of a comeback victory, which has fueled speculation and intense public interest about what each administration would look like.

Markets Prepare for Election Volatility

Investors are bracing for a bumpy road ahead as Election Day looms. The dollar recently posted its most significant drop in over a month, a signal of growing uncertainty among currency traders. Investors are also retreating from the so-called “Trump trades”—assets that surged during his previous administration—as some pull back on their bets for a Trump win. In addition, speculators are liquidating positions in U.S. bonds, adding another layer of complexity to an already jittery market.

The stock market, meanwhile, is reflecting the unease. Volatility bets are ramping up, with the Chicago Board Options Exchange’s Volatility Index (commonly known as the “fear index”) flashing signals of rising market anxiety. Whether due to the tight polling, the polarized electorate, or concerns about the post-election period, traders are preparing for a wild ride.

Stock Highlights: How Key Companies Are Faring

While election fever sweeps the nation, major companies continue to make headlines of their own. Here’s a snapshot of how some corporate heavyweights are performing amid this backdrop of political and economic tension.

1. Berkshire Hathaway: Shares of Warren Buffett’s conglomerate inched down after reporting third-quarter operating earnings of $10.1 billion, slightly below analysts’ expectations. Although the dip was minimal, it highlights the sensitivity of investors to economic data and corporate earnings in an uncertain climate.
2. Apple: The tech giant experienced a slight decline in share price, dropping 0.6% on high trading volume. The move came after Berkshire Hathaway disclosed a substantial reduction in its Apple stake, with only 300 million shares remaining. Berkshire’s selling activity reflects shifting investor sentiment, even toward resilient companies like Apple.
3. Peloton: Bucking the trend, Peloton saw an 8% boost after Bank of America upgraded the company to “buy” from “underperform.” The bank expressed optimism about Peloton’s future under new CEO Peter Stern, set to begin in January, predicting a solid path for growth in earnings before interest, taxes, depreciation, and amortization (EBITDA).
4. Nvidia and Sherwin-Williams: Both Nvidia and Sherwin-Williams saw gains following the announcement of their inclusion in the Dow Jones Industrial Average, effective November 8. Nvidia, a leader in AI and graphics technology, will replace chip rival Intel, while Sherwin-Williams will take the spot currently held by Dow Inc. Shares of Nvidia rose nearly 2%, Sherwin-Williams more than 4%, while Intel and Dow Inc. saw slight declines on the news.

As the country heads into the final stretch before Election Day, all eyes are on the race and the markets. The coming days are sure to bring more political twists and market turns, as candidates vie for the White House and investors brace for potential changes that could shift the economic landscape.