Economists say the biggest economic forces, including affordability pressures, heavy government spending and AI-dependent growth, are likely to persist regardless of which party holds power. Moody's Analytics chief economist Mark Zandi calls the economy fragile and says a downturn could come with little push, while the Iran war, tariffs and immigration policy are set by executive order and therefore unlikely to change after the election. GDP grew at a 3.4% annualized pace in the third quarter and consumer spending rose 3.8%, with unemployment at 4.2%, but CPI inflation was 3.7% in September, up from 2.3% in April 2025, and inflation-adjusted wage growth fell 0.7% from a year earlier. Gary Cohn sees room for compromise on tariffs if they are passed as legislation rather than executive orders. Morgan Stanley analysts said Democrats would likely look to roll back spending cuts to SNAP and Medicaid under the One Big Beautiful Bill Act, though other policies would be harder to reverse.
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| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
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