Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis.

Good afternoon. Today is Tuesday, November 5th, and I'm your host, Kim Khan. Our top story so far.

Strange women lying in ponds, distributed sorts is no basis for a system of government.

As voters head to the polls across the U.S., on Wall Street, stocks are higher and bonds are lower,

for now. All the major averages are up more than half a percent, led by the NASDAQ, up about 1%.

All SMP sectors are in the green, led by industrials. Still, the indexes are already off their highs of the

day, and choppy trading is expected. In the bond market, the 10-year treasury yield is back up

around 4.35%. Fundstrats Tom Lee says, I'm bullish in the sense that election uncertainty

has caused people to de-risk and cash to sit on the sidelines, but the fundamentals have been good.

Earning season has been very good, Lee added. The Fed is doveish, and I don't think it's going to matter

who ends up in the White House, even if it's a split Congress or a sweep. I think markets do

pretty well either way. It sets up for a really good rally into year-end, but when it starts in

November is just what we don't know.

James Demert, Chief Investment Officer at Main Street Research, has a similar message,

saying investors should look past the election and focus on fundamentals of what drives markets.

Our message to investors is to buy the chop and weakness that is being driven by election

uncertainty and to remain fully invested as the

market melts up in a Santa Claus rally, which we believe will last through year end, pushing

the S&P 500 to 6150, he said. On the economic front, the October ISM services index increased

to 56 in October versus 53.5 consensus and 54.9 in September. That's the fourth straight

month of increases and the highest readings since July 2022. It's also the eighth time the composite

index has been an expansion territory this year, with last month's move driven by

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