Investors should sell a potential rally in the market if Trump wins the election, according to Citi’s Scott Chronert.

“Your starting point is a fairly extended valuation circumstance that’s predicated on very strong earnings growth follow-through into 2025,” the bank’s U.S. equity strategist told CNBC’s “Squawk on the Street” on Tuesday. “Our concern is that with that set up, you go into a Trump win and you introduce tariffs into the discussion … [and] 2025 growth expectations become a bit more suspect as we navigate tariff action.”

On the other hand, if Harris is victorious, Chronert said investors should consider buying an anticipated market dip. 

“It really comes down to Trump and tariffs, and Harris and taxes,” he said.

— Sean Conlon

Customers shop in the deli meat aisle of a grocery store in Miami on Oct. 17, 2024.

Joe Raedle | Getty Images

The Misery Index, an economic metric that offers a snapshot of the state of the economy for consumers, is lower today than it has been for any presidential election in nearly 50 years.

That development is likely “very good news for Kamala Harris,” said Justin Wolfers, a professor of public policy and economics at the University of Michigan.

The index, invented by economist Arthur Okun in the 1970s, is calculated by adding the unemployment rate to the annual inflation rate.

Right now, the Misery Index sits at roughly 6.5, Wolfers found. For comparison, the index was over 9% in November 2012 and 20% in November 1980.

In November 2016, the last time Trump won the presidency, the index was a touch lower at 6.4. In the last presidential election in 2020, when Trump lost to President Joe Biden, the index was at 7.9.

— Annie Nova

Workers start to build out the Harris-Walz campaign election stage and event space at Howard University in Washington, D.C., on Nov. 3, 2024.

Kent Nishimura | Getty Images

Harris shared her plans for Election Day today on The Big K Morning Show with Larry Richert on NewsRadio KDKA. Her campaign headquarters for the night will be at her alma mater Howard University, and before that she plans to have dinner with family members.

“I have a tradition of having dinner with my family, and so we will do that. I have a lot of my family staying with us,” Harris said. “Then during the day, I’ll be today, all day, talking with folks and reminding them to get out to vote.”

— Ece Yildirim

The stock market is climbing as traders brace for election results.

The Dow was up more than 300 points, or about 0.8%. The S&P 500 and the Nasdaq Composite climbed 0.9% and 1.1%, respectively.

Risers among S&P 500 stocks outnumbered declining names by more than 3 to 1, with industrial and energy stocks performing well.

U.S. equities have an unusually strong election year so far. The S&P 500 is up about 20% year to date and is within striking distance of a record high.

— Jesse Pound

The New York Times 2020 Election Needles.

Source: New York Times

The New York Times “Needle,” which freaked out Hillary Clinton supporters in 2016, and dismayed Trump supporters in 2020, might not move much even as the votes roll in tonight.

The Needle, a speedometer-like graphic that represents the statistical likelihood of a presidential candidate winning, needs data from computer systems maintained by Times engineers — who are currently on strike.

The Times’ Election Analytics team said, “We will only publish a live version of the Needle if we are confident those systems are stable.”

“If we are not able to stream the Needle’s results live, our journalists plan to run its statistical model periodically, examine its output and publish updates in our live blog about what they see,” the team wrote.

— Dan Mangan

Former mayor of New York City and former Trump lawyer Rudy Giuliani reacts at the Nassau Veterans Memorial Coliseum during a rally held by Republican presidential nominee and former U.S. President Donald Trump, in Uniondale, New York, on Sept. 18, 2024.

Brendan Mcdermid | Reuters

Former Trump lawyer Rudy Giuliani was ordered to appear in federal court in New York City Thursday to explain why personal property of his that two Georgia election workers have been authorized to sell off to satisfy a fraction of a $146 million defamation judgment against him is missing.

The order came on Monday, shortly after a lawyer for the workers, Ruby Freeman and Wandrea’ Moss, notified Manhattan U.S. District Court Judge Lewis Liman in a jaw-dropping letter that Giuliani and his lawyer “have refused or been unable to answer basic questions about the location of most of the property.”

Giuliani “apparently emptied the contents of” his New York apartment a month ago, without telling the women’s lawyer.

A federal judge in Washington, D.C., last year found the former New York mayor and top federal prosecutor liable for defaming the women by falsely accusing them of committing ballot fraud during the 2020 presidential election, when he was Trump’s top election lawyer. A jury later said he should pay them $146 million in damages.

— Dan Mangan

Twenty states, including the District of Columbia, have put National Guard troops on state active-duty or prepare-to-activate orders to provide election support, NBC News reported.

The number, which is likely to grow, translates to about 350 troops across both categories.

The troops are mostly available to provide cyber, law enforcement or general support for the election.

— Kevin Breuninger, Courtney Kube, NBC News, and Mosheh Gains, NBC News

Dilara Irem Sancar | Anadolu | Getty Images

The Truth Social logo is seen in this photo in Warsaw, Poland, on Dec. 4, 2023.

Jaap Arriens | Nurphoto | Getty Images

Trump Media & Technology shares popped more than 12% as Americans headed to the polls Tuesday.

It is the latest swing for shares of the company, which operates Truth Social and is majority-owned by Republican nominee Trump. Some investors have seen the stock as a way to bet on the former president’s reelection odds.

Shares of the stock rallied more than 110% in October alone, marking its first positive month since March. The stock has gained another 10% since the start of November.

Trump Media & technology

A man votes in the 2024 U.S. presidential election on Election Day, at the Mattress Factory in Pittsburgh, Pennsylvania, U.S., November 5, 2024. 

Quinn Glabicki | Reuters

Vote-scanning machines are down in Cambria County, Pennsylvania, causing some complications for morning voters in a deep red county of the major swing state.

The Pennsylvania State Department said it is “in contact” with the county officials and is working to clear up the technical difficulties.

In the meantime, voters at the affected precincts are casting paper ballots, which are being stored in a secure location to be scanned once the machines are up and running.

In 2020, Trump won Cambria County by roughly 37 points against Joe Biden.

A couple of other instances of technical difficulties have been reported in other states, which have caused some voting delays, but the issues do not appear to be connected.

— Rebecca Picciotto

Former U.S. President Donald Trump speaks to the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida.

Joe Raedle | Getty Images

Florida has led the country in disenfranchising citizens with felony records. But Donald Trump, the only former president ever to be found guilty of criminal charges, should have no trouble casting his ballot in the Sunshine State.

That’s because Trump was convicted in New York.

Under Florida law, an out-of-state felony conviction makes a person ineligible to vote only if they would also be ineligible in the state where they were found guilty.

Trump on May 30 was convicted by a New York jury of 34 felony counts of falsifying business records related to a hush money scheme to pay porn star Stormy Daniels for her silence ahead of the 2016 election.

A New York law passed in 2021 allows for convicted felons to register to vote if they are not incarcerated. It also restores the voting rights of convicted felons upon their release from incarceration.

On Sept. 6, Manhattan Supreme Court Judge Juan Merchan ruled that Trump will not be sentenced in the hush money case until Nov. 26 — three weeks after Election Day.

Trump traveled back to Florida on Tuesday, and he is expected to cast his ballot near his Mar-a-Lago home in West Palm Beach.

— Kevin Breuninger

Trump 2024 senior economic advisor Stephen Moore and Former Obama campaign manager Jim Messina joined CNBC’s “Squawk Box” to share their expectations for the presidential race and discuss the candidates’ plans for the economy and businesses.

“This is the closest race I have seen since 2000, and I think anyone who tells you they know what’s going to happen tonight is drunk,” Messina said.

Moore said he is “not a big fan” of Trump’s highly contested universal tariffs plan and claimed that while he thinks he would implement “very stiff tariffs on China,” these proposals will be more akin to “negotiating tactics” with other countries.

— Ece Yildirim

Cybersecurity and Infrastructure Security Agency logo.

Source: Wikipedia

As of 9:30 a.m. ET on Tuesday, federal cybersecurity officials have not identified any significant national-level incidents affecting the security of U.S. election infrastructure, Cait Conley, senior advisor to the director at the Cybersecurity and Infrastructure Security Agency, told reporters in a briefing.

“We are tracking instances of extreme weather and other temporary infrastructure disruptions in certain areas of the country, but these are largely expected, routine and planned-for events,” Conley said.

— Ashley Capoot

Voters line up outside of a polling station at Donegan Elementary School as the polls open on Election Day in Bethlehem, Pennsylvania, on Nov. 5, 2024.

Samuel Corum | AFP | Getty Images

Many investors worry how the markets may react based on who is elected president on Election Day, but experts at top financial advisory firms tell clients not to make any sudden moves in reaction to uncertainty.

In the long term, markets generally tend to do well, no matter who occupies the Oval Office.

Investment research company Morningstar recently evaluated how the S&P 500 has performed starting Nov. 1 in the past 25 U.S. presidential elections. Forward one-year returns were positive for 10 of the 13 elections where Democrats won, and in nine of the 12 contests where Republicans won, the firm found.

Forward four-year returns were positive for Democrats in 11 out of 12 terms, compared to Republicans who had positive returns in nine out of 12.

“Presidential elections historically have not been nearly as important to markets as most people think,” said Mark Motley, portfolio manager at Foster & Motley in Cincinnati, which is No. 34 on the 2024 CNBC Financial Advisor 100 list.

— Lorie Konish

Republican vice presidential nominee Sen. JD Vance arrives to vote at the St. Anthony of Padua Maronite Catholic Church on Election Day in Cincinnati, Ohio, on Nov. 5, 2024.

Carolyn Kaster | AP

Trump’s running mate, Ohio Sen. JD Vance, just voted at a polling site in Cincinnati.

Accompanied by his wife, Usha, and his children, Vance cast his ballot at St. Anthony of Padua Maronite Catholic Church.

“I of course voted for Donald Trump and myself. So did my wife,” Vance told reporters after voting.

“I feel good. You never know until you know, but I feel good about this race.”

— Kevin Breuninger

Democratic presidential nominee and Vice President Kamala Harris, left, shares a laugh with second gentleman Doug Emhoff, after reuniting in Pittsburgh on Nov. 4, 2024, aboard Air Force Two, just before taking off from Pittsburgh for her final campaign rally in Philadelphia.

Jacquelyn Martin | Via Reuters

“The stock market’s at an all-time high. We have great economic growth. The unemployment numbers are around 4%, and the economy’s doing quite well after Covid,” SkyBridge Capital’s Anthony Scaramucci said, making the case for Harris.

The former Trump White House official joined Strive Asset Management’s Vivek Ramaswamy on CNBC’s “Squawk Box” to debate Harris’ and Trump’s economic records.

— Josephine Rozzelle

Members of the International Association of Machinists and Aerospace Workers District 751, embrace at a union hall after learning that union members voted to approve a new contract proposal from Boeing in Seattle, Washington, U.S. November 4, 2024.

David Ryder | Reuters

President Joe Biden declared victory in Boeing machinists’ approval of a new labor deal, ending a 53-day strike that halted most aircraft production at a top U.S. exporter and military contractor and dented the last jobs report before Tuesday’s presidential election.

The deal “was achieved with the support of my economic team, including Acting Labor Secretary Julie Su and National Economic Advisor Lael Brainard,” Biden said in a statement.

“Over the last four years, we’ve shown collective bargaining works. Good contracts benefit workers, businesses, and consumers—and are key to growing the American economy from the middle out and the bottom up,” he said.

The new Boeing contract for its 33,000 unionized machinists, mostly on the U.S. West Coast, includes 38% raises over four years, a $12,000 and a deal with the company that it builds its next aircraft in one of the unionized factories in the Seattle area. Workers go back on the job as early as Wednesday, though the company isn’t out of the woods with several delayed aircraft programs including the late-arriving Boeing 747s that will serve as the next Air Force One airplanes.

—Leslie Josephs

Republican presidential candidate and former President Donald Trump speaks during a press conference at his Mar-a-Lago estate in Palm Beach, Florida on Aug. 8, 2024.

Joe Raedle | Getty Images

Trump will host an exclusive election night dinner at Mar-a-Lago for club members and his top political donors, a source who received an invitation confirmed to NBC News.

The dinner is scheduled to take place after the Republican presidential nominee casts his vote in person. He then plans to call in to several tele-rallies, a person familiar with the planning told NBC News.

In the late afternoon, Trump will huddle with an inner circle of advisors, friends and donors, another source told NBC News.

When the race results start becoming more clear, the former president then plans to leave the resort and go to the Trump-Vance watch party at the Palm Beach Convention Center in West Palm Beach, Florida.

— Rebecca Picciotto

Home Depot co-founder Bernie Marcus appears on “Cavuto: Coast to Coast,” with anchor Neil Cavuto, on the Fox Business Network, in New York, Monday, June 24, 2019.

Richard Drew | AP

Bernie Marcus, the billionaire co-founder of Home Depot and a major supporter of Trump’s political career, has died at 95, the company confirmed.

Marcus led the Home Depot for more than two decades, both as its first CEO and as chairman of the board. His net worth at the end of his life topped $11 billion, according to Forbes. The company now boasts more than 2,300 locations and employs more than 500,000 people.

Marcus was an outspoken supporter of Trump and other Republicans. His philanthropic vehicle, the Marcus Foundation, donated $10 million to the pro-Trump Preserve America PAC in the 2020 election. His family foundation gave $7 million to a pair of pro-Trump super PACs in the 2016 election.

In the 2024 cycle, Marcus said he preferred Trump’s Republican primary rival, Nikki Haley.

— Kevin Breuninger

Pollster and political strategist Frank Luntz on CNBC’s Squawk Box this morning said he thinks Pennsylvania and Nevada will be too close to call on Wednesday morning, and that the general public will not know the results of presidential election until “either late Friday or early Saturday.”

“If Trump loses either [Georgia and North Carolina], it will be a Harris victory. If Trump wins either Pennsylvania or Michigan, it will be a Trump victory,” Luntz said.

Other metrics that Luntz is “watching keenly” are the Latino vote in Nevada and Arizona, whether conservative older woman will vote slightly more for Harris than they normally do for a Democratic candidate, younger women who are “more pro-Harris than any Democratic group,” and whether or not today’s polls will see a record-setting turnout, which would be “good news for Trump.”

— Ece Yildirim

Former House Speaker Kevin McCarthy joined CNBC’s “Squawk Box” this morning to talk about his expectations for tonight. McCarthy claimed polls are underestimating support for Trump in Wisconsin, and laid out how he thinks Harris is faring in Pennsylvania.

— Ece Yildirim

A voter walks with his dog after casting his ballot in the First-in-the-Nation midnight vote for the New Hampshire primary elections in the Living Room of the Tillotson House at the Balsams Grand Resort in Dixville Notch, New Hampshire, on January 23, 2024. 

Sebastien St-Jean | AFP | Getty Images

Harris and Trump tied the midnight race in Dixville Notch, an unincorporated community in a small New Hampshire township where there are six registered voters this year.

Three of those voters went for Harris while the other three went for Trump. The polls opened at midnight and closed at 12:07 a.m. E.T.

Since 1960, Dixville Notch voters have followed the tradition of submitting their votes in person in a wooden box just after midnight, before the results are announced minutes later.

Though the Dixville Notch result is not a predictive measure, the tradition has kicked off Election Day events for decades of night owls.

This year, the Harris-Trump tie happens to mirror the dead-heat race that polls have been reporting over the past several months. In 2020, President Biden received all five of the Dixville Notch votes cast before winning the overall race.

— Rebecca Picciotto

Republican presidential nominee former U.S. President Donald Trump gestures during an 11th Hour Faith Leaders Meeting in Concord, North Carolina, U.S., October 21, 2024.

Brian Snyder | Reuters

Shares of Trump Media & Technology Group are trading higher this morning as investors make some of their final bets on the former president’s company in his final hours in the race against Harris.

The DJT stock was up roughly 9% at one point before the market opened.

The meme stock tends to fluctuate, but over the course of the election, it has often been viewed as a proxy gauge for Trump’s chances at a second presidential term.

Wall Street analysts listed it as a stock to watch going into Election Day.

Read the full story here

— Fred Imbert and Rebecca Picciotto

Republican presidential nominee, former President Donald Trump holds up a fist at a campaign rally at the Santander Arena on November 04, 2024 in Reading, Pennsylvania. 

Chip Somodevilla | Getty Images

Trump closed out his campaign on Monday with four rallies in three swing states: Two in Pennsylvania, plus one each in North Carolina and Michigan.

On Election Day, the only officially announced event is the Trump-Vance watch party at the Palm Beach Convention Center in West Palm Beach, Florida.

— Kevin Breuninger

Duke University students wait in line with residents of Durham County to cast their ballots at a polling site on campus during the penultimate day of early voting in the state, in Durham, North Carolina, U.S. November 1, 2024. 

Jonathan Drake | Reuters

More than 77 million Americans have already cast their ballots by mail or in person, according to NBC News’ tally of the early vote.

That’s far less than in 2020, when more than 100 million Americans voted early. But those results came in the middle of the deadly Covid-19 pandemic, when many Americans avoided public gatherings and states had greatly expanded absentee and early voting rules.

Trump criticized early voting in 2020 — a stance that may have helped President Joe Biden clinch several key swing states.

While Trump has at times waxed nostalgic about single-day voting in the 2024 cycle, both his campaign and Harris’ have mostly encouraged their supporters to vote as soon as they can.

NBC’s data, provided by TargetSmart, show Democrats slightly leading Republicans in the early vote tally, 41% to 39%.

Among the seven key battleground states, more registered Democrats appear to have voted early in three — Pennsylvania, Michigan and Wisconsin — while registered Republicans lead in Arizona, Nevada, North Carolina and Georgia.

Voters fill out their ballots for the presidential election during early voting ahead of the polls closing November 5 at the Detroit Elections Office in Detroit, Michigan, U.S. October 28, 2024. 

Rebecca Cook | Reuters

What it all means for the final result is far from clear.

While early vote figures are often viewed as a signal about certain voters’ enthusiasm or expected turnout, it’s hard to predict how many more voters will show up on Tuesday. It is also difficult to know ahead of time whether a party’s early vote share is “cannibalizing” its Election Day turnout.

An NBC analysis found that among early voters in 2024 who did not vote in 2020, Democrats outpace Republicans in Pennsylvania, and female Democrats are the biggest group of new voters in the state.

In Arizona, however, there were more Republican new voters than Democratic ones, and male Republicans led the way.

— Kevin Breuninger

Democratic presidential nominee U.S. Vice President Kamala Harris smiles during her campaign rally, in Allentown, Pennsylvania, U.S., November 4, 2024. 

Eloisa Lopez | Reuters

After storming Pennsylvania on Monday, Harris’ Election Day schedule is relatively sparse — at least for now.

The only item on her agenda is an election night watch party at Howard University, her alma mater in Washington, D.C.

The campaign will hold an event at “the Yard,” the main quadrangle on campus.

Walz and his wife, Gwen Walz, are also set to participate in a political event in Harrisburg, Pennsylvania, NBC News reported.

— Kevin Breuninger