On November 3, 2024, voters cast early votes for the U.S. presidential election at a polling station in Detroit, Michigan, USA.
Rebecca Cook | Reuters
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What you need to know today
The United States added only 12,000 new jobs in October.
U.S. economy 12,000 new jobs created in Octobersignificantly lower than Dow Jones’s estimate of 100,000, hitting the lowest level of job creation since December 2020. .
Asian markets climb ahead of China’s National People’s Congress meeting
U.S. stocks rose on Friday, kicking off NovemberTraders shrugged off the disappointing jobs report. this Dow Jones Industrial Average up 0.69% S&P 500 Index up 0.41% Nasdaq Index up 0.8%. Asia-Pacific markets rise On Monday, investors focused on the U.S. election, the Federal Reserve’s monetary policy meeting and China’s monetary policy meeting starting on Monday.
China’s stimulus measures will depend on U.S. election
Investors expect Beijing to Details of financial support announced on Friday, When the Standing Committee of the National People’s Congress meets Ending the five-day conference. Lu Ting, chief China economist at Nomura Securities, said last week, “If Trump wins, the scale of China’s fiscal stimulus plan will be about 10% to 20% larger than if Harris wins.”
Harris makes progress in Iowa
Most pollsters predict Kamala Harris will upset Iowa. However, the Des Moines Register/Mediacom Iowa Poll showed the vice president leading Donald Trump 47% to 44% among likely voters in Iowa, which happened 7 times in September percentage point shift. Iowa has six electoral votes.
(PRO) Congressional composition could determine stock performance
While all eyes are on who will occupy the Oval Office after the U.S. election night on November 5, investors will want to pay attention Will Congress ultimately be divided or united. He, not the current president, may be the key to determining the future performance of the stock market.
bottom line
It’s an overused expression, but “the calm before the storm” might be the best way to describe the start of this week and the day before the U.S. election.
After the weekend’s closing debates in key battleground states, the United States is now on the brink of Election Day, with two very different candidates with two distinct positions on a range of issues.
Beyond the two presidential candidates, it’s important to remember that the president of the United States does not operate in a vacuum. Control of the House and Senate will also determine the president’s ability to fulfill his campaign promises.
For investors, it’s like the last moments before a plane lands.
Many may be on the sidelines before returning to the market. With the two candidates locked in a stalemate, trying to predict the winner and where the market will go is like flipping a coin.
Furthermore, while November 5th seems to be the giant red circle on the calendar that everyone is focused on, the world continues on after that day. The Fed’s next two-day meeting will be held on November 6-7, and a Reuters survey of economists predicts a 25 basis point rate cut.
