U.S. stocks held steady Monday with investors reluctant to make major moves a day ahead of the U.S. presidential election.
â€śOur hope, probably shared by most investors, is the outcome is decided late tomorrow night and does not drag out over a number of days,â€ť Fred Dickson, chief investment strategist at Davidson Cos., wrote in a note.
â€śWall Street is hoping for an orderly and decisive outcome, regardless of who wins,â€ť offered Andrew Fitzpatrick, director of investments at Hinsdale Associates.
American voters on Tuesday decide whether President Barack Obama will continue in the White House for another term or if Republican challenger Mitt Romney will instead replace him in the Oval Office.
â€śStocks rallied over the summer as the likelihood of an Obama victory appeared greater. Once Romney gained the momentum in the fall, stocks have been left wondering who might win and have ended up trading mostly sideways to negative,â€ť Fitzpatrick said.
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