US midterm results unlikely to derail AI trade as corporate earnings remain strong: Drew Pettit
CNBC-TV18 1 hr ago·4 Nov 2026, 6:36 am
Drew Pettit, Chief Investment Strategist at Roundhill Investments, argues that the outcome of the recent US midterm elections will likely have little impact on the broader market. He suggests that while political shifts are always a topic of discussion, major policy changes are unlikely to occur. Consequently, the prevailing 'AI trade' is expected to remain intact, as investor focus shifts away from politics and toward the underlying strength of the economy.
For investors, this perspective implies that the current rally in technology stocks, driven by artificial intelligence, is not at risk of being derailed by election-year volatility. Pettit emphasizes that corporate earnings and business fundamentals are the primary drivers for stock performance. Therefore, market participants should continue to monitor earnings reports and company fundamentals rather than political developments to gauge the true direction of the market.
Looking ahead, the key for investors will be to track corporate earnings releases and economic data. If companies continue to report solid results, the momentum in the AI sector is likely to persist. Investors should remain focused on the long-term potential of these businesses, rather than reacting to short-term political noise, to make informed decisions in this environment.
Excerpt from CNBC-TV18
Published On Nov 4, 2026 | 12:06 IST Last Updated On Nov 4, 2026 | 12:06 IST Drew Pettit, Chief Investment Strategist, Roundhill Investments believes major policy changes remain unlikely and says corporate earnings and business fundamentals, rather than politics, will remain the key drivers for stocks. Global markets…Read the original at CNBC-TV18
Key takeaways
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
