It’s another big day for the markets, as we continue to wait for the results of the presidential election.  Ballots are still being counted in several states.  All the major indices are in the green. Once again, the Nasdaq is rocking up 2.3%. The best performer today is the Russell 2000, which underperformed yesterday. 

The S&P 500 is up almost 2%, while the Dow has gained 1.8%.  All 11 S&P 500 sectors are in the green today, with Materials outperforming after being hit in yesterday’s session. 

Despite Energy being up, WTI crude has reversed and is down 1% to $38.78 a barrel. Interest rates, which came down nicely yesterday, are up fractionally.  The benchmark 10 year is trading at .776%.  This could change this afternoon, but not meaningfully.

Breadth is overwhelmingly positive, almost 5-1 on the NYSE, and companies making new 52-week highs is blowing away new lows.

The Fed will end its two-day meeting, and it is highly anticipated that there will be no change in the current fed fund rates when it releases its policy statement.  What will have investors attention is Fed Chair Powell’s comments during the press conference and if he gives any direction on new monetary stimulus. Stay tuned.