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Private Briefingwith WILLIAM PATALON III, Executive Editor
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Chief Investment Strategist
33-year seasoned market analyst and professional trader with highly accurate track record. Specialty in global markets.
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30-year veteran analyst of business, economics, and financial markets. Award-winning author of "Contrarian Investing."
The stock market today is trading higher as investors await the results of Election 2012. By the end of tonight, barring legal battles that could delay a winner, the uncertainty surrounding the election will be over.
But there's more than the election that's affecting markets today.
As voters head to the polls, it's only fitting that the one economic report released today is on jobs.
One of the president's biggest issues will be dealing with the fiscal cliff. The good news for investors is that it seems more and more likely that a bipartisan deal will be reached.
Although U.S. secretary Timothy Geithner was not present, the attending U.S. officials pledged to "pursue a bipartisan deal that would deliver a path of public-finance sustainability, but not too much to put growth at risk." If the election is not decided tonight the delay in announcing a winner will have serious ramifications for attempting to resolve the fiscal cliff. And for investors that is not good. A recent CNN poll suggests that 60% of market professionals are far more concerned about what's going to happen when spending cuts and tax increases hit Jan. 2 than they are about who's in the White House.
And finally, here's one stock that's headed for 15% gains today and another you should avoid:
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