Election Fury, Earnings: NPI, PKI, NFI, BLX
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US mid-term election drama is exceeding expectations, with five weeks still to go until the November 7th election day.
Still to be factored in are the financial results for the US government for the year ending Sept-30-2018, and an escalating trade war with China. Rising discontent over Trump's choice for the leadership of the US justice system and the Mueller investigation may also become a turning point in the mid-term elections.
From the perspective of financial markets, the time frame for this week's data spans from January 2018, until present. January was selected as the starting point, since this was the month in which key indexes reached their peaks. Only the US Dow Jones Index has been able to return to, and exceed these previous all-time highs. The reason for this is the considerable help from big tax cuts in the US passed in December-2017, and the anticipation that trade tariffs will ultimately be positive for the economy. Comments this week consider the impact that further trade tariff escalation, and a larger than expected US Government deficit could have on the election outcome and interest rates.
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