The U.S. presidential election is approaching, but financial markets are not expecting significant changes despite the Trump vs. Harris contest.

Investor Skepticism

Stocks have had a good year, with the S&P 500 up 22%, and Dow and S&P coming off their best six-week rally. According to Sam Stovall, chief strategist at CFRA Research, there is usually 'further improvement' in November and December following this pattern. However, history doesn't guarantee results, and some investors are keeping an eye on sectors like communication services, financials, and IT.

Potential Election Result Delays

A significant risk for the election is the possibility of delays. If the result is unclear, it could lead to considerable market volatility. Monica Guerra from Morgan Stanley suggests that a delay is likely due to mail-in ballots. After the 2020 election, the Cboe Volatility Index jumped 40% over three days until Joe Biden was declared the winner.

Bitcoin and Crypto Markets

Over the past week, Bitcoin surged 9% to nearly $69,000, and 59% year-to-date. Institutional investment flows, especially through spot ETFs, have totaled over $20 billion. Donald Trump is seen as a pro-crypto candidate, while Kamala Harris promises clearer regulatory frameworks. Central bank actions are also fueling Bitcoin's rise.

The US elections may significantly impact the market, but the main factor remains in the hands of global economic conditions and monetary policy.