Trump trade in full swing as US election results flow in [Video]
|We’re on the cusp of the US election results. They’re starting to trickle in, pointing toward a more favourable outcome for the Republicans and Donald Trump. As a result, the so-called ‘Trump trade’ is in full swing this morning.
The US yields are pushing higher, Bitcoin hits record, the US dollar is stronger against most currencies (even against gold and Swiss franc), and US equity futures advance while sentiment in Europe is mixed.
In earnings, Palantir hit record high on strong earnings and forecast on AI demand, semiconductors surfed on the news, while Saudi Aramco’s weak earnings get the OPEC-encouraged bulls to scratch their heads regarding Saudi’s future commitment to production cuts. That, along with Trump lead is weighing on oil prices this morning.
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