What the Trump Victory Means for Markets
What the Trump Victory Means for Markets: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- What the Trump Victory (and likely Republican Sweep) Means for Markets
Futures are surging more than 2% as Donald Trump soundly defeated Kamala Harris, Republicans flipped the Senate and will likely win the House of Representatives, completing the sweep and taking control of Washington.
Markets are moving sharply on the expected Republican sweep, as the Dollar Index is 1.7% higher, the 10-year Treasury yield jumps 17 bps and oil falls more than 1%.
Away from the U.S., German Manufacturers’ Orders and Euro Zone Composite PMIs were stronger than expected.
Today most of the analysis and commentary will focus on the implications of the likely Republican sweep, but there is also an important economic report out this morning: the November Flash Composite PMI (E: 54.3). That number needs to stay Goldilocks to keep growth and Fed rate cut expectations intact (and now that the election is behind us, those growth and rate cuts will again drive markets).
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