Trump has an advantage – Swiss stock market expected slightly lower
Published: Wednesday, Nov 6th 2024, 07:30
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As the votes are counted in the US presidential election, investors are holding their breath on Wednesday morning. Former President Donald Trump is currently ahead of Vice President Kamala Harris. Both the Swiss stock exchange and the European markets are set for a cautious opening. Meanwhile, prices on Wall Street are clearly on the rise.
The US dollar and Bitcoin are also on an upward trend on Wednesday morning. Trump's election victory is associated with a restrictive immigration policy, tax cuts and comprehensive tariffs. These are all measures that would exert greater upward pressure on inflation and bond yields than would be the case if Harris were to win.
A slightly negative opening is currently expected for the SMI. Broker IG puts the leading index at 11,860 points (-0.02%) at around 6 a.m. Indications for important European indices such as the German Dax are somewhat more pronounced. This is currently expected to open with a loss of 0.42%.
Meanwhile, a clearly positive opening is emerging for Wall Street. IG is currently pricing the Dow Jones blue-chip index 1.2 percent higher.
A clear reaction can already be seen on the currency markets. The US dollar is strengthening against all major currencies. The dollar/franc pair is currently trading at 0.8708, almost a centime higher than the previous evening.
Donald Trump currently has a clear lead in the US presidential election with 230 of the necessary 270 electoral votes. The situation for Kamala Harris is now becoming increasingly critical, as she now has to score points in the crucial swing states.
Meanwhile, Bitcoin reached a new all-time high. The oldest and best-known cryptocurrency rose to a record high of just over 75,000 dollars on US election night.
"The stock markets are currently playing the Trump trade," said one stock market analyst. "The markets are reacting sensitively to political developments and are reflecting the uncertainties and hopes of investors."
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