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A fall has been seen in USA stock futures; Yen gains after Trump-Biden debate



USA stock futures

The dollar has picked its uptrend after the recovery from Thursday’s fall. But the USA stock market futures fall, and the Japanese yen ticked up Friday. The JPY (Japanese Yen) was up 0.1% at 104.71 per dollar at the time of market closing yesterday.

A debate has been seen between President Donald Trump and his opponent Joe Biden, the Democratic challenger. This debate is a hurdle for the investors as some violet movements are seen in the USA stock market future.

S&P 500 E-minis EScv1 were down 0.1% at 3,444.75 points. The S&P 500 index .SPX closed down 0.5% at 3451.49 when the market closed at Thursday.

According to Mr. Vasu Menon, a senior strategist at OCBC Wealth management in Singapore, the debate was slightly more civilized than the previous others. Trump has failed again to make up for his lost ground from the first debate. He mentioned that Biden has proved that he is way better than his counterpart, current president Donald Trump. This debate should cement the position of Biden in the USA presidential election on November 3.

The first debate happened between the two candidates on September 29. Polls showed a clear victory of Biden. It allows the S&P 500 to gain 3%, which gave comfort to the investors.

The market has seen a 60% rise in the S&P index since Trump’s unexpected election victory on November 8, 2016. The gain was greater than the 42% gain, which happened in the first four years after Democratic President Barack Obama won in 2008.

According to the investors, the taxes may be increased if Joe Biden becomes the president after Democrats won the election. They also believe that Democrats can bring the fiscal stimulus to boost up the corporate earnings.

However, it is still uncertain how Wall Street will react to the result of election 2020.  In 2016 after Trump’s victory, market analysts predicted a fall in stocks. But that prediction has proven wrong already. So investors should keep a close eye on the stocks instead of the following prediction.

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