The post S&P 500 and Dollar surge after U.S. presidential debate, market prices Biden out appeared on BitcoinEthereumNews.com.

In a series of posts on X (formerly Twitter), The Kobeissi Letter reported market data following the June 27 U.S. presidential debate between Donald Trump and Joe Biden. According to the page, different market indicators have favored a potential victory for Trump while pricing Biden out. This drastic market reaction has sparked intense speculation about the upcoming election’s outcome and potential economic implications. Market sentiment over the U.S. presidential debate The debate’s aftermath saw a significant market reaction, with odds favoring a Donald Trump victory climbing to 63%. Simultaneously, President Biden’s chances of securing a second term plummeted by 15 percentual points since the debate began. The Kobeissi Letter‘s post highlights the market betting strongly on Trump. Who Will Win the 2024 U.S. Presidential Election? Source: The Kobeissi Letter This sudden change in perception has sent shockwaves through financial markets, prompting investors to reassess their strategies. Moreover, the S&P 500 index inched closer to its all-time high, reaching within 15 points of breaking new ground. This surge reflects growing investor confidence in a potential Trump administration and its projected economic policies. As a result, market volatility is expected to spike by over 25% in the coming months leading up to the November election. U.S. Dollar strengthens amidst political uncertainty The ripple effects of the U.S. presidential debate extended beyond the stock market. The Kobeissi Letter also reported that the dollar surged to its strongest level since November. This simultaneous rise in both the S&P 500 and the U.S. Dollar underscores the complex interplay between political events and financial markets. US Dollar Trades at Strongest Since November. Source: Bloomberg With the S&P 500 on the brink of a new high and the USD up approximately 6% year-to-date, investors are closely monitoring both the election developments and potential Federal Reserve actions. These…

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Filed under: News - @ June 28, 2024 9:18 am