FINTECH.TV contributor Errol Coleman joins Remy Blaire live from the Cboe trading floor to break down midday trade on Election Day. Coleman says Apple and Palantir, which reported earnings yesterday and slid lower, have each recovered at least almost half of their downside moves in today’s intraday action. For the broader market, he says there is still not enough clarity and traders are waiting for more follow-through.
With the midterms underway, Coleman walks through what prediction markets are pricing in. He says markets show about a 95% probability that Democrats win the House and about a 78% probability that they win the Senate, with a Democratic sweep of both chambers priced at about 77%.
Coleman notes that Senate expectations have shifted significantly over the last week, rising by about 11%, and says the odds have moved higher as the midterms have gotten closer. Remy Blaire adds that more earnings are still to come and that viewers should have a clearer result heading into tomorrow morning.