The Standard & Poor’s Index closed lower Friday for a ninth straight day, marking its longest losing streak in 36 years.

However, o

n the eve of the U.S. presidential election, global stocks jumped Monday and U.S. shares are looking to snap their longest losing streak in 36 years after FBI director James Comey said the agency is not recommending criminal charges against Democratic nominee Hillary Clinton over her emails.

Investors around the globe responded bullishly to news that the FBI investigation related to Clinton's emails was over, as they interpreted the news as boosting Clinton's chance to win the tight election race with Republican challenger Donald Trump as well as clearing a legal hurdle for Clinton in the event that she does prevail tomorrow on Election Day.

The S&P 500 was up about 30 points, or 1.5 percent, and on track to snap a nine-session losing streak, its longest skid since December 1980.


Stocks surge as FBI clears Clinton; Dow jumps more than 250

More: Stock skid hits day nine; worst since 1980

Jim Brogan, the president of Brogan Financial, Inc., spoke with 10News Today anchor Russell Biven on how the election may affect the stock market.

Russell Biven: What are the concerns with the election and the market?

Jim Brogan: I think the election has had something to do with these market declines the last nine days. You mentioned how it hadn’t happened since 2008.

You know Russell, let’s keep this in perspective. In 2008, the last time that happened, in those nine days the market was down almost 23 percent in nine days. By contrast, in the past nine days, the market has been down a little (more than) 2 percent total. These have been very, very gradual declines.

Now, I think the market is driving part of that. I think stocks are expensive right now. I think markets are apprehensive. Markets don’t like uncertainty. So I do think that’s causing some of this.

Biven: The different policies from each candidate, whoever gets elected, how might that affect the market?

Brogan: I think the major two things there Russell are tax policy and how do the candidates feel about free trade?

So, if you look at taxes, you know Hillary Clinton wants to increase income taxes. Donald Trump wants to decrease taxes. Markets typically would look at tax increases very unfavorably.

Now by contrast, markets like free trade. Hillary Clinton wants more of the status quo with free trade. Donald Trump wants to reduce free trade, which would be unfavorable to markets.

But, here’s the reality. Whatever happens tomorrow Russell, no policies are going to be implemented on Nov. 9, right? So, let’s keep a perspective on all of this.

Biven: How can folks protect the investment despite the outcome of this whole thing?

Brogan: I think the No. 1 thing is don’t panic. Don’t do anything rash. Okay?

The reality is, whatever these candidates stand for, you know especially with taxes and free trade. Like let’s look at taxes, no policies are going to be implemented even on Jan. 20.

Whatever these candidates are proposing today, that’s not what the final deal is going to look like. They’ve got to work with Congress to enact change, and pass new laws. That could take months or even years to play out. So, we don’t know what’s going to happen.

In my opinion, anything with this week with volatility is nothing more than a knee-jerk reaction, and will smooth out in the coming weeks.

No. 3 it’s a good reminder, we plan for volatility before it happens, not while it’s happening. It shouldn’t surprise us when we have market volatility. That’s what markets do, especially around elections.

When the dust clears, look at your portfolio. What is your appetite for risk? Make sure you’re invested accordingly.