Markets see the election as a close call, expert says

US stocks (^DJI, ^IXIC, ^GSPC) closed Wednesday's trading session in the red, but remain not too far from their recent record highs. Morgan Stanley Wealth Management managing director Dan Skelly joins Market Domination Overtime to discuss how investors can navigate the current market and some of the volatility that lies ahead.

"When you look at what's happened over the last six weeks or so, it's, in our view, as if the technicals took the market down the elevator quite quickly a few weeks ago. And then some reaffirmation of the soft landing and the fundamental broadening out of earnings power across not just tech, but the rest of the market, has actually taken the market back up the elevator," Skelly explains.

Moving forward, he expects the theme of broadening out to continue. However, the election could cause volatility as there is an overall mixed picture on its outcome. He says, "while some folks are trying to put together an election-related narrative and how that pertains to the markets, I think the market is saying actually one of two things. One, the market is saying this is going to be a lot closer election than a lot of people may be thinking, and there's no real conclusion to draw as of now. And I agree with that personally. And then secondly, the market is really paying attention to the fundamental economic data."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Melanie Riehl