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Well, either way you cut it, the next 24-48 hours could be seismic for the US markets and mostly pertinently it is all about what happens once the new US president is in office. We know that Harris is pledged to raise corporation tax and Trump is pledged to slash it. Of course any move on taxes will not happen overnight, even if it passes. In terms of tech and the evolving race there, perhaps the tax implications for either winner will not impair the outlook for tech stocks in due course, if that growth continues? We shall have to see on that, but at the same time we should dismiss the potential for a very sharp immediate reaction to the outcome of the election. Perhaps the worst case scenario might be no immediate result, as that might throw up significant uncertainty. If the markets have to wait a a few days, or even weeks for the outcome to be known it will deliver volatility. Perhaps that is good for us, but less so for longer-term investors. The Nasdaq 100 closed last night at 19,963 with a loss of 69 points on the day. The index futures are higher this morning and currently pricing a higher opening, right now at around 20,020
The Pound performed pretty well yesterday and continued to press higher from an earlier session low at 1.3203, seen just as the European markets...
Yesterday afternoon the dollar hit session lows leading into the final 4pm London fix of the week and that saw the USD/JPY fall back to 141.90. One...
Pretty much all this week BTC has just not been at the races, indeed that was an observation made the week before and it was the same then too. So...
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