polls

The 2024 U.S. presidential election will begin next Tuesday, with many major polls still showing Trump and Harris in a dead heat

ChainCatcher news, according to Jinshi reports, the United States will begin the 2024 presidential election next Tuesday (November 5). Many major polls still show that Trump and Harris are neck and neck. Data from the Commodity Futures Trading Commission (CFTC) indicates that hedge funds and managers have accumulated $18 billion in long positions in dollars ahead of the U.S. election vote. Currently, Wall Street strategists generally believe that Trump's promise to impose tariffs will support the dollar at least in the short term. Hedge funds and other speculative traders expect that the potential impact of the election on demand for safe-haven assets and the direction of tariffs will further boost the dollar.The market generally believes that Trump's proposal to lower corporate taxes will benefit corporate profits, so if he wins, it will boost U.S. stocks. On the other hand, Harris's potential tax increase policies are seen as relatively bearish for the stock market. However, Bank of America and Citigroup recently presented opposing views. Analyst Marc Chandler stated, "Many of the positive possibilities for next week have already been priced in, so the risks tend to be on the downside. Gold recently hit an all-time high but failed to break through $2800. Notably, when the U.S. stock market fell on October 31, gold also experienced significant selling, almost as if it was being liquidated to meet margin requirements."
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