It goes without saying that U.S. elections have the potential to seriously shake up certain markets and have eyes on them for many reasons other than mere politics. As we look forward to this pivotal 2024 election, it is true that stock market performance is certainly impacted. That said, its impact on the S&P 500 is largely limited to the short term while the medium- and long-term performance of the stock market are predominantly driven by economic growth and inflation.