US stock futures and the dollar rose after Biden-Trump debate, with investors speculating on outcomes.

From Investing.com: 2024-06-27 23:45:37

U.S. stock futures and the dollar rose in early Asian trading as Joe Biden and Donald Trump debated for the 2024 presidential election. Investors anticipate higher stock prices and bond yields under a Trump presidency due to lower corporate taxes and tougher trade relations. E-minis rose as the debate progressed.

The U.S. dollar rose to a 10-day high against the Mexican peso and other trade-sensitive currencies during the debate. China’s benchmark CSI300 edged up 0.4% while Hong Kong’s market remained flat. Trump criticized Biden for not doing more on tariffs with China.

Biden stumbled over his words and Trump attacked his economic policies during the debate. Fact-checkers found many of Trump’s comments misleading. Biden acknowledged inflation but credited himself for the economic recovery post-pandemic.

Karl Schamotta from Corpay in Toronto said Biden’s performance had raised odds of a Trump victory, leading to a decline in trade-sensitive currencies. Both candidates support tariffs, but investors worry about inflation impact.

PredictIt’s 2024 presidential election market showed a decrease in Biden’s odds to 39% and an increase in Trump’s to 61%. U.S. Treasury yields rose slightly, with 10-year notes up 2 basis points. JPMorgan analysts noted potential tariffs, immigration restrictions, and tax cuts under Trump.

Investors are cautious about potential isolationist policies post-election. Some warned against reading too much into the stock market futures movement. Tim Ghriskey from Ingalls & Snyder advised not to assume an outcome too early.



Read more at Investing.com: US stock futures, dollar rise after Biden-Trump debate By Reuters