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Citi’s U.S. equity strategist Scott Chronert announced that the bank will seek trading opportunities amid market fluctuations caused by the upcoming elections. In his statement on CNBC’s Squawk Box, Chronert mentioned that the S&P 500 index is currently fairly valued, although the election outcome could have positive or negative impacts on the market.
Impact of Election Results on the Market
Chronert noted that should Trump win, tariffs could influence the market and raise questions about economic growth expectations. Conversely, a victory for Harris may direct the market through tax policies.
JPMorgan Chase strategists also focused on potential tariffs under Trump and tax implications under Harris. They indicated that if Harris wins, the election could weaken the dollar.
Market Expectations and Future Predictions
JPMorgan believes that despite the Republican Party’s attempts to weaken the dollar, such policies could have counterproductive effects. They suggested that increased government spending and tariffs may elevate U.S. interest rates and strengthen the dollar.
“We try to stay away from political issues and remain focused on fundamentals. Trump and tariffs, along with Harris and taxes, are key factors in this context.” -Scott Chronert.
Chronert exhibited a cautious stance regarding how Trump’s business-friendly policies and Harris’s tax-increasing strategies could affect economic growth. Likewise, JPMorgan strategists share a similar perspective, emphasizing the significant influence of election results on global money markets, particularly regarding tariffs and fiscal policies.
As pre-election uncertainties rise, market participants aim to capitalize on potential opportunities through strategic maneuvers. Ultimately, major banks like Citi and JPMorgan assert that the upcoming election results could be pivotal for market dynamics, urging investors to adopt a flexible and cautious approach.
