{"id":244665,"date":"2024-11-03T13:03:59","date_gmt":"2024-11-03T13:03:59","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/"},"modified":"2024-11-03T13:03:59","modified_gmt":"2024-11-03T13:03:59","slug":"how-will-the-outcome-of-the-u-s-election-affect-financial-markets","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/","title":{"rendered":"How will the outcome of the U.S. election affect financial markets?"},"content":{"rendered":"

<\/p>\n

\n

Whichever candidate wins the U.S. president election next Tuesday, experts say investors will be relieved to shed some uncertainty over what kinds of policies to expect.<\/p>\n

But macroeconomic factors like interest rate cuts and geopolitical tensions will be far bigger influences on markets in the coming year than the outcome of the election, they say.<\/p>\n

\u201cWhat we really look at … is looking at which candidate can play a more critical role in shaping economic growth,\u201d said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd.<\/p>\n

Democratic candidate Kamala Harris\u2019s promises are focused on domestic competitiveness, particularly among renewables, semiconductors and infrastructure, Gardner said.<\/p>\n

She\u2019s likely to maintain current trade policies and stability, added Gardner, and that could lead to steadier corporate profits. However, there\u2019s been some talk of a potentially weaker U.S. dollar under Harris, which Gardner said could drive some short-term inflation.<\/p>\n

On the other hand, Republican candidate Donald Trump is likely to cut taxes, especially corporate tax rates, which will boost profits, Gardner said. Sectors like oil and gas or banks are likely to do well under Trump thanks to tax cuts and deregulation, she said.<\/p>\n

However, Trump has also said he would broadly raise tariffs, including a proposed 60 per cent rate on goods from China and a tariff of up to 20 per cent on all other imports.<\/p>\n

\u201cTariffs are the greatest thing ever invented,\u201d Trump said in September.<\/p>\n

While there is usually some market volatility leading up to the election, the result doesn\u2019t look to spell disaster for investors either way, said Michael Currie, senior investment adviser at TD Wealth.<\/p>\n

\u201cDepending what sector, what area you\u2019re in, you\u2019re going to have a favourite.\u201d<\/p>\n

While Trump may be pro-business and focused on cutting red tape and taxes \u2014 and markets had a good run during his last presidency \u2014 Harris presents less of a concern when it comes to geopolitical risks, said Mona Heidari, senior financial advisor at BlueShore Financial.<\/p>\n

This \u201ccontributes to stronger investor sentiments and stronger investor confidence to invest in the stock market,\u201d Heidari said.<\/p>\n

On conference call to discuss Gildan Activewear Inc.\u2018s latest results, chief executive Glenn Chamandy said Thursday that tariffs factor into costs and can create inflation, but it\u2019s still unclear what their overall effect would be. He expressed optimism that Gildan won\u2019t be disadvantaged.<\/p>\n

\u201cIf tariffs come in, they come in for everybody, so we\u2019ll be in the same position that we\u2019re in today,\u201d he told investors on the call.<\/p>\n

Higher spending from the government \u2014 which both candidates are likely to do \u2014 can be inflationary, making price growth stickier, said Kevin Headland, chief investment strategist at Manulife Investment Management. So can tariffs and tax cuts, he added.<\/p>\n

A TD Economics report from mid-October said the Democrats \u201chave a historical edge when it comes to stock market performance,\u201d but that this is likely a reflection of the state of the economy when they take office.<\/p>\n

Currie noted that the health-care sector usually does worse in U.S. election years, and that\u2019s no exception this time around. Both parties like to say leading up to an election that they will fight big drug companies and insurance companies, but their promises are usually overhyped, he said.<\/p>\n

Since the U.S. is Canada\u2019s biggest trading partner, any changes in the trading relationship between the two countries could be cause for concern, said Headland.<\/p>\n

\u201cIf we are in a weaker economic environment in Canada, losing some of that demand for our goods could add additional weakness to the Canadian economy,\u201d he said.<\/p>\n

\u201cIf former president Trump gets in, there could be some uncertainty there.\u201d<\/p>\n

Experts said there\u2019s always market volatility heading into an election, but not necessarily major moves in the end.<\/p>\n

\u201cIt\u2019s surprising how little effect elections actually have on the markets,\u201d said Currie. But \u201cit\u2019s usually a big story.\u201d<\/p>\n

Markets tend to be a little more subdued but still positive in an election year, while they often go up by more than average in the year following an election, said Gardner.<\/p>\n

\u201cThe markets don\u2019t like uncertainty. They don\u2019t like not knowing,\u201d she said.<\/p>\n

\u201cObviously certain sectors will benefit, but the markets continue to go higher at least 12 months after, and that is because they know who the president is. They know what to expect in the market, and there are favourable changes coming in from both parties.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Whichever candidate wins the U.S. president election next Tuesday, experts say investors will be relieved to shed some uncertainty over what kinds of policies to expect. But macroeconomic factors like interest rate cuts and geopolitical tensions will be far bigger influences on markets in the coming year than the outcome of the election, they say. […]<\/p>\n","protected":false},"author":1,"featured_media":244666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-244665","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nHow will the outcome of the U.S. election affect financial markets? - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How will the outcome of the U.S. election affect financial markets? - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Whichever candidate wins the U.S. president election next Tuesday, experts say investors will be relieved to shed some uncertainty over what kinds of policies to expect. But macroeconomic factors like interest rate cuts and geopolitical tensions will be far bigger influences on markets in the coming year than the outcome of the election, they say. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-03T13:03:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"How will the outcome of the U.S. election affect financial markets?\",\"datePublished\":\"2024-11-03T13:03:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/\"},\"wordCount\":757,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/21384967.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/\",\"name\":\"How will the outcome of the U.S. election affect financial markets? - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/21384967.jpg\",\"datePublished\":\"2024-11-03T13:03:59+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/21384967.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/21384967.jpg\",\"width\":600,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/11\\\/03\\\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How will the outcome of the U.S. election affect financial markets?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How will the outcome of the U.S. election affect financial markets? - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/","og_locale":"en_US","og_type":"article","og_title":"How will the outcome of the U.S. election affect financial markets? - Ghanamma.com","og_description":"Whichever candidate wins the U.S. president election next Tuesday, experts say investors will be relieved to shed some uncertainty over what kinds of policies to expect. But macroeconomic factors like interest rate cuts and geopolitical tensions will be far bigger influences on markets in the coming year than the outcome of the election, they say. […]","og_url":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/","og_site_name":"Ghanamma.com","article_published_time":"2024-11-03T13:03:59+00:00","og_image":[{"width":600,"height":400,"url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg","type":"image\/jpeg"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"How will the outcome of the U.S. election affect financial markets?","datePublished":"2024-11-03T13:03:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/"},"wordCount":757,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/","url":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/","name":"How will the outcome of the U.S. election affect financial markets? - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg","datePublished":"2024-11-03T13:03:59+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/11\/21384967.jpg","width":600,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/11\/03\/how-will-the-outcome-of-the-u-s-election-affect-financial-markets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"How will the outcome of the U.S. election affect financial markets?"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/244665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=244665"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/244665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media\/244666"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=244665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=244665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=244665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}