A second presidential term for Donald Trump could lead to extreme protectionism, a significant population decline, and increased debt due to reckless fiscal policies, warns Derek Holt, head of capital markets economics at Scotiabank. He cautions that Trump's proposed policies could severely undermine both U.S. and global economies.
As the U.S. election approaches, Bank of America emphasizes the importance of stock picking over index investing, noting that political outcomes could impact specific market sectors. Meanwhile, Scotiabank identifies three biotech firms poised for significant growth, while European markets are set for a mixed opening amid key earnings reports, including Deutsche Bank's return to profit. Crude oil prices have risen due to geopolitical tensions and China's rate cuts, while gold continues its rally, reaching record highs amid economic uncertainties.
Asia markets mostly declined following a slip in major U.S. indexes, with Hyundai Motor India shares dropping over 5% on their debut after a $3.3 billion IPO. Meanwhile, YG Plus shares surged nearly 30% after a collaboration track by Blackpink's Rosé topped streaming charts. Gold prices hit a record high of $2,700 per ounce, driven by central bank buying and macroeconomic uncertainties, while JPMorgan highlighted potential catalysts for a rally in Xpeng shares.
Scotiabank has identified three biotech stocks as its top picks, each boasting more than 100% upside potential. This bullish outlook highlights the bank's confidence in the growth prospects of these companies within the biotech sector.
MD Financial Management, founded in 1969 by the Canadian Medical Association, specializes in financial planning for physicians at all career stages. With a strong presence in Quebec, including a newly expanded office in Chicoutimi, MD offers tailored services and actively engages with the medical community, recently launching initiatives to support physicians and reduce their administrative burdens.
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