Tuesday marks Election Day in the U.S., with Americans heading to the polls to decide between Republican candidate Donald Trump and Democratic rival Kamala Harris. This tightly contested race, especially in key battleground states, has investors on high alert as the results could reshape policies with massive economic impact. Each candidate’s approach to issues like energy, technology, and finance is likely to influence market dynamics for years to come.
Both Trump and Harris have made final appeals to voters in critical swing states, with Trump focusing on Michigan and Harris pushing for a “fresh start” in Pennsylvania. Polls indicate a close race, particularly in states that could swing the election. This uncertainty kept U.S. stock futures flat Tuesday morning as markets also anticipate upcoming earnings reports and the Federal Reserve’s decision on interest rates. Some sectors, including tech and energy, may feel the direct effects of new policies, depending on who wins.
After a two-month-long strike, Boeing (NYSE) and its West Coast workers reached an agreement on Monday, ending a production slowdown that had been costing the company $100 million per day. About 59% of the machinists voted in favor of a new contract, which includes a 38% wage increase over four years but doesn’t restore a previously canceled pension plan. The production halt affected around 33,000 workers and had a significant impact on Boeing’s revenue.
Bitcoin, meanwhile, saw gains Tuesday following recent losses. As a symbolic “Trump trade,” Bitcoin’s price volatility partly reflects election-related sentiment, with Trump positioning himself as a proponent of cryptocurrency. Traders are watching to see how election results may impact the regulatory environment for crypto.
Oil markets remained stable on Tuesday following OPEC+’s announcement of a one-month delay to its planned output hike, extending a 2.2 million-barrel-per-day cut. This move shows OPEC+’s caution in the face of uncertain global demand, which could be impacted further by U.S. policy changes post-election.
Chinese stocks outperformed other Asian markets on Tuesday, with the Shanghai Shenzhen CSI 300 gaining 2.5% as investors reacted positively to economic data showing robust growth in China’s service sector. Premier Li Qiang’s recent comments about opening China’s economy further helped lift sentiment. This comes as global markets brace for potential volatility from the U.S. election.
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