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US stocks closed higher for the sixth consecutive week, buoyed by strong tech sector performance, particularly Netflix's 11% surge after positive earnings. The S&P 500 rose 0.85%, while the Dow Jones added 412 points. Economic data exceeded expectations, and Trump leads in key battleground states, reviving interest in "Trump trades." Technical analysis suggests the Nasdaq 100 could test 21,500 if it holds above 20,000, while the S&P 500 aims for 6000 if it remains above 5760/5750.
IG
Kamala Harris is significantly outspending Donald Trump as they enter the final month of the U.S. presidential election campaign. Both candidates are investing tens of millions of dollars in television advertisements ahead of the November 5 contest, according to recent financial disclosures.
As the 2024 presidential election approaches, healthcare remains a pivotal issue, with costs soaring to $4.5 trillion, representing 17.3% of GDP. Candidates are addressing medical debt, with 20 million Americans owing $220 billion; Vice President Harris proposes measures to alleviate this, while former President Trump focuses on reducing insurance premiums and improving price transparency.
The dollar has gained momentum from the resurgence of the "Trump trade," as Donald Trump's presidential prospects improve. However, UBS cautions that while a Trump victory may provide a temporary boost, the dollar's long-term outlook remains limited, advising against holding onto stronger rallies. Emerging market currencies like the South African rand and Mexican peso are seen as favorable options for medium-term gains.
The debt collection industry, bolstered by private-equity investments, opposes a federal proposal to remove medical debts from credit reports, arguing it could lead to increased defaults and reduced revenue for healthcare providers. While proponents believe it would alleviate financial burdens on consumers, critics warn it may result in more lawsuits and hinder lenders' ability to assess borrowers' financial health. The debate highlights the broader issues within the U.S. healthcare system, where rising medical costs have left many Americans with significant debt.
The upcoming U.S. elections could significantly impact commodity markets, with a potential Kamala Harris victory likely boosting demand for industrial metals and renewable energy materials due to increased infrastructure spending. Conversely, a Trump re-election may favor fossil fuels through deregulation and support for domestic production, affecting agricultural exports and trade relations. Both scenarios will influence the U.S. dollar, indirectly impacting commodity prices.
IG
The upcoming U.S. election could significantly impact commodity markets, with Kamala Harris's potential victory likely boosting demand for industrial metals and renewable energy materials due to increased infrastructure spending. Conversely, a Trump re-election may favor fossil fuels and deregulation, affecting supply and prices. Both scenarios could influence the U.S. dollar's strength, further impacting commodity prices.
IG
The outcome of the US elections could significantly impact commodity markets, with a Kamala Harris win likely boosting demand for renewable energy commodities like copper and lithium, while reducing reliance on fossil fuels. In contrast, a Trump re-election may favor traditional fossil fuels through deregulation and increase demand for industrial metals due to infrastructure spending. Both scenarios could influence precious metals as geopolitical uncertainty drives demand for safe-haven assets like gold, alongside fiscal and monetary policies affecting the US dollar and commodity prices.
IG
Institutional investors are increasingly worried about the U.S. national debt, which is projected to exceed $1.9 trillion, raising concerns about its impact on portfolios amid high interest rates and geopolitical tensions. A recent survey revealed that central bank policies and macroeconomic risks are top concerns, with many institutions reassessing their fixed income strategies. The rising debt levels are not just a U.S. issue but a global phenomenon, prompting scrutiny of fiscal policies worldwide.
A Kamala Harris victory in the 2024 US presidential election could positively impact South African financial markets through strengthened trade relations, increased foreign direct investment, and a potential uplift in the Johannesburg Stock Exchange. A stronger rand may benefit import-reliant sectors while challenging exporters, particularly in coal. Additionally, lower interest rates could stimulate economic activity, enhancing investor sentiment and liquidity in local markets.
IG
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