Wall Street is putting October's wonky jobs report reported this morning on the backburner and turning its attention to next week's political Super Bowl: the 2024 presidential election. Whether Vice President Kamala Harris or former President Donald Trump are elected, everyone wants answers as to how they will be tackling the nation's biggest economic pitfalls, including the US deficit.

"It's not a very positive fiscal outlook. And unfortunately, the two candidates for presidential office do not have credible plans; just a bunch of red ink, a lot of promises that aren't paid for," Roth Capital Partners chief economist and macro strategist Michael Darda tells Yahoo Finance. "And, so gridlock really doesn't solve this equation either."

Darda speaks to Julie Hyman and Josh Lipton on Market Domination Overtime about the known fiscal policy that could persuade markets (^DJI, ^IXIC, ^GSPC) one way or the other, ultimately advising a barbell approach for investors.

"We do know now that there is upward pressure on real rates. You know, it is being driven by a repricing of how much the Fed [Federal Reserve] is going to be able to cut [interest] rate," Darda says. "Some of that is economic optimism, but some of it's probably also the fiscal outlook is as well. I think most of it has to do with the economy. So my advice would be don't radically restructure your portfolio based on estimates of the fiscal path for the for the US."

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

This post was written by Luke Carberry Mogan.