Reported 9 months ago
The first debate of the 2024 U.S. presidential election took place on June 27, 2024, between incumbent President Biden and former President Trump. While election years typically benefit the U.S. stock market, this time there are uncertainties according to Bloomberg analysis. A Biden victory would favor electric vehicles and solar stocks but unfavor financial and pharmaceutical stocks; a Trump win could pressure U.S. companies with significant exposure in China like Nvidia and Broadcom, while benefiting oil stocks. The debate, held at CNN's studio in Atlanta, reflects the earliest televised presidential debate in modern U.S. history. With concerns over both candidates' age affecting cognitive ability and emotional stability, Trump's camp highlights Biden's tendency to misspeak while Biden's team anticipates Trump's inconsistent nature being exposed. Traders are preparing for market volatility around the November election, with experts warning of potentially delayed election results similar to the 2000 Florida recount causing market fluctuations. A Biden win spells benefits for clean energy and associated industries, though strict regulations may pose risks for financial and pharmaceutical sectors, while a Trump victory could escalate trade tensions benefiting oil and gas companies. Both scenarios have implications for various companies with exposure to China and traditional energy sectors.
Source: YAHOO