Here's how UBS's Art Cashin sees the election results moving markets

Art Cashin, UBS director of floor operations, joins "Squawk on the Street" to discuss the 2020 election and how it's shaping markets. What we're seeing today is a little bit of the unwinding of the 'Blue Wave' trade, says Cashin. That doesn't look to be the case, so you're seeing energy stocks moving up, solar stocks are moving down. You're beginning to see repositioning. This is a 'sense of relief' rally, he adds. I think the litigation, however, will drag on the market.