Analysts predicted choppy markets going into the presidential election on Tuesday, but emphasized the US economy’s growth and fundamentals.
Market analysts are braced for volatility ahead of Tuesday’s presidential election as traders shuffled their bets on a Donald Trump or Kamala Harris victory.
The Republican and Democratic candidates are neck and neck in many polls, fueling uncertainty in the finance world over who’ll emerge triumphant, and clouding the outlook for everything from tax and trade policy to corporate regulation and geopolitics.
One analyst underscored the critical importance of the election in research notes on Monday, while another touted economic fundamentals as more important to markets and predicted long-term investors would likely win over time.
Meanwhile, the Federal Reserve is expected to cut interest rates by 25 basis points on Thursday, while China’s central bank is set to unveil some form of economic stimulus measures later this week.
Here’s a roundup of analysts’ comments:Naeem Aslam, chief investment officer at Zaye Capital Markets
«US and European stock futures are trading flat as traders continue to focus on one thing and one thing alone, and that is the US elections. Basically, there is nothing else that matters; it is not going to be earnings that would move things in the markets, and it won’t be the US jobs noisy number that would make traders think about the US economy.
