Trump-Biden debate may spark stock volatility

TheStar Mon, Sep 28, 2020 09:50am - 3 years View Original


Presidential debate: A combo picture showing Biden (left) and Trump who will face off in the first of three scheduled debates tomorrow. — AFP

NEW YORK: Some US stocks could face more volatility this week as President Donald Trump and rival Joe Biden face off in their first debate ahead of a November election that betting services currently view as almost a coin flip. A strong performance in tomorrow’s debate by Biden, who currently has a modest lead in betting odds and polls, might boost stocks related to global trade and renewable energy, while a perceived debate victory by Trump could benefit fossil fuel and defence companies.

The first of three scheduled debates comes at a fraught moment on Wall Street. The S&P 500 has tumbled 10% from record highs in recent weeks as investors worry about a prolonged recovery from the coronavirus and uncertainty related to the Nov 3 vote, including the possibility of a delay in announcing a winner.

If one candidate emerges stronger tomorrow, “the debate could be an individual stock and sector play”, said Jack Ablin, chief investment officer at Cresset Wealth Advisors.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Comments

Login to comment.