Stock Market Winners & Losers: Stocks Rise as Investors Await Election Results | Homebuyers are Older and Wealthier Than Even | California Wine Industry in Decline
A Republican or Democrat sweep in the election could lead to major spending shifts or tax policy changes, causing near-term market volatility. Historically, stocks often dip post-election but typically rally by year-end; the S&P 500 is already up over 19% this year.
Global wine consumption has fallen sharply, with younger consumers opting for nonalcoholic drinks and inflation raising wine prices. In California, 500,000 tons of grapes may go unharvested, affecting the state’s $73 billion wine industry. Campaigns like “Sober October” are also impacting sales, prompting winemakers to launch the “Come Over October” campaign.
Housing affordability is a key election issue as first-time homebuyer rates hit a four-decade low, and the median age of all buyers rose to 56. Both presidential campaigns have proposed housing assistance solutions.
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