Vice President Kamala Harris addressed the Democratic National Convention last night after accepting the party's presidential nomination in the 2024 election. With less than 75 days until the election, UBS Global Wealth Management Co-Lead of ElectionWatch Tom McLoughlin joins Catalysts to discuss the election's potential impact on markets (^DJI, ^IXIC, ^GSPC).

McLoughlin suggests that while a Harris victory is currently the most likely outcome, "this is going to be an exceptionally close election." He emphasizes the importance of Congressional races as well, noting they are "equally important" as they will significantly influence domestic policy.

"There's a lot of evidence to suggest that presidential elections do have an impact on the market in a tactical basis, in a short-term basis, so over the course of two or three months," McLoughlin states. However, he notes that these effects tend to balance out over the long term.

McLoughlin advises investors "not to get too wound up about the outcome of the election," suggesting that while short-term volatility (^VIX) may occur, long-term investment strategies should not be overly influenced by election results.

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