Week of July 29: Market Snapshot
July has been a month for rotations as we have seen presidential candidate polling swing following the attempted shooting of former President Trump and subsequently President Biden’s exit of the 2024 presidential campaign. Further, we have seen value and small cap stocks begin and sustain short-term outperformance of their growth and large cap peers.
With Vice President Harris poised as the favored Democratic nominee to take on former President Trump, election odds are looking like more of a coin flip than they were prior to Biden’s bowing out.
This political uncertainty can be expected to add uncertainty to market outlooks ahead of the November election. This is to be expected as history has shown market uncertainty tends to increase leading into elections and subsequently decrease back to normal levels.