On August 5th, in what would have been our very first installment of supercharged election-centric coverage…

I had an issue of Election Insider - The Rundown already lined up…

When stocks experienced a face-melting slide during pre-market hours.

The round numbers?

DJIA was down 1,000 points. The Nasdaq and S&P 500 were down 5% and 4% respectively.

“The Fed's way behind the curve,” we warned at the time. “We're careening towards a recession.”

In fact, our follow-up issue had the subject line: Recession = Trump Landslide Win.

You probably know where this is heading…

Your Rundown for Wednesday, November 6, 2024...

Harris’ Unpardonable Sin

This morning, I woke up to an Apple News alert on my iPhone’s locked screen, indicating that Trump had apparently won Pennsylvania.

Moments later, the Associated Press confirmed it.

Although I believed Trump would win, I didn’t think the election would be this clear-cut.

I said as much on Monday: Don’t expect a speedy conclusion.

But, again, back to Pennsylvania…

In 2020, it took four days for votes to be counted in the Keystone State.

Nevertheless…

What was Vice President Kamala Harris’ undoing?

She quite unforgivably maintained: “Bidenomics is working.”

Meanwhile, economist James Galbraith forecasted: “Whatever stories Americans are told about the strength of the economy under President Joe Biden…

… They are not going to be persuaded to look past the issue of their own living standards.

In other words, however everyday Americans perceive their personal economies on Election Day, they’ll vote accordingly.

If they’re struggling to put food on the table… a roof over their heads… gas in the tank… American voters will run far away from the incumbent party.

Put simply: You don’t get to have Jimmy Carter-era inflation…

Without an upstart Republican waiting in the wings.

[By the way, Republicans have won a majority in the U.S. Senate — minus Maryland’s former governor Larry Hogan, a local Senate race we’ve covered here in recent weeks. The House is still too close to call.

The round stock market numbers this morning? In premarket trading, the Dow is up 1,200 points. The Nasdaq and S&P 500 are up 1.5% and 2% respectively. Even crypto is joining the party.]

Market Rundown for Wednesday, Nov. 6, 2024

S&P 500 futures are up 125 points, about 60 points under 6,000.

A barrel of WTI is down 3%, priced under $70.

Gold is down 2.3% to $2,686.30 per ounce.

And Bitcoin is up 6.5% — just shy of $74,000.