NEW YORK (TheStreet) -- U.S. equity markets have been somewhat sluggish during trading Monday, as the hype for the evening's presidential debate between Donald Trump and Hillary Clinton reaches a crescendo.

Despite the boxing-match-like promotion of the debate, how it will ultimately affect the remainder of the presidential race is anyone's guess.

UBS (UBS) - Get Report Executive Director of U.S. Equity and Derivatives Strategy Julian Emanuel thinks that tonight's debate won't answer the questions that the markets have been asking.

"By most tally, the uncertainty between these two is really at about the maximum point," Emanuel said on CNBC's "Power Lunch" Monday. "We don't think that there is going to be any more resolution of that uncertainty tomorrow."

It's possible that the U.S. equity market could remain choppy tomorrow and over the next few weeks, according to Emanuel.