Harris gains ground post-debate, impacting Trump-related trades

From Quiver Quantitative: 2024-09-12 21:22:17

After the U.S. debate, traders are adjusting positions with Harris gaining momentum over Trump. Trump Media & Technology Group shares fell 12%, and Bitcoin dipped slightly. The dollar also dropped 0.2%, while European green energy stocks rose on expectations of Democratic investment in renewables. Market strategists urge caution, highlighting the influence of election outcomes and broader economic factors on asset prices. Harris’ odds of winning increased to 56% on PredictIt. Analysts emphasize the uncertainty of the election and advise against making definitive bets based on predictions. Economic data, especially on inflation, will continue to shape market behavior.

As Harris gains momentum in the polls, traders are adjusting portfolios. The debate aftermath showcases the impact of political dynamics on assets like the dollar, Bitcoin, and green energy stocks. Market analysts caution against definitive trades based on election predictions, emphasizing the importance of economic data moving forward. Financial markets will react to U.S. political shifts and economic reports. The sustainability of Harris’ momentum remains to be seen, prompting traders to respond to the latest developments in the race.



Read more at Quiver Quantitative: Harris Gains Ground Post-Debate, Pressuring Trump-Linked Trades