Shares are set to open lower with Wednesday’s CPI monthly indicator topping the agenda; Nvidia weakness seen temporary; US dollar dominance would get Republican boost: Goldman. Follow updates here.
In a look-ahead view on the November US elections, Goldman Sachs equity strategist David Kostin said prediction markets imply slightly higher odds of a Trump presidency than a Biden presidency, with the probability of a Republication sweep almost twice the odds of a Democratic sweep . “Our economists expect the US dollar to strengthen under a Republican White House victory regardless of whether there is a sweep or divided government.
Although there is substantial uncertainty in the size and scope, tariff increases appear likely in the event of a Trump victory and would likely strengthen the USD.” Kostin said based on the 2018-2019 experience, tariffs would likely lift consumer prices, and could potentially boost government revenues, but the impact on economic growth is less clear.
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