US presidential election 2024
Uncertainty creates opportunity. With the upcoming US election on 5 November 2024, no matter who wins, the markets will react. Trade every outcome.
Start trading today. Call +65 6390 5133 between 9am and 6pm (SGT) on weekdays or email accountopening@ig.com.sg for account opening enquiries.
Start trading today. Call +65 6390 5133 between 9am and 6pm (SGT) on weekdays or email accountopening@ig.com.sg for account opening enquiries.
Start trading today. Call +65 6390 5133 between 9am and 6pm (SGT) on weekdays or email accountopening@ig.com.sg for account opening enquiries.
Start trading today. Call +65 6390 5133 between 9am and 6pm (SGT) on weekdays or email accountopening@ig.com.sg for account opening enquiries.
2024 US Presidential Election polling
Why trade the 2024 US election with us?
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Markets to watch
- Stock market indices
- Shares
- Currencies
- Commodities
The stock market has a history of reacting, sometimes sharply, around major elections. According to a recent FT Michigan Ross poll, a Kamala Harris win would likely be welcomed by the broader market given her party’s generally pro-business and investor-friendly economic policies and the fact that she is more trusted to handle the economy.
However, certain sectors like fossil fuels and private prisons could face pressure under her administration. Meanwhile, a Trump re-election could spark initial unease and volatility across indices given his unpredictable governing style in the past.
Healthcare stocks face uncertainty headed into the election.
Harris supports expanding public health insurance options which could pressure private health insurers’ profits. Trump favours repealing the Affordable Care Act. The former president is tipped to make changes in laws and regulations that could have a huge impact on sales and profits for health insurers, hospitals, drug and medical-device companies.
Biotech and pharmaceutical companies are also expected to monitor the winning candidate's drug pricing reform plans closely. The sector could see volatility around the election before stabilising directionally after.
In the currency market, the US Dollar's value against other major currencies like the Euro, British Pound Sterling, Yen and Chinese Yuan is likely to see initial election-driven volatility.
In a Trump win, import tariffs, tighter immigration laws and a larger fiscal stimulus may be inflationary and complicate the Federal Reserve (Fed)’s easing process. A surprise victory from Trump could support a rush in safe-haven flows to the US dollar as well (as seen in 2016).
In a Harris win, less-adversarial trade policies amid Fed’s easing may weaken the US dollar. Certainty around policy continuity may also drive less safe-haven flows for the dollar.
The oil and gas market would be watching the election closely. A Harris win raises the possibility of more stringent environmental regulations and a faster transition away from fossil fuels to combat climate change.
This regulatory pressure could weigh on oil and gas prices, at least initially. Meanwhile, Trump would likely entail more drilling-friendly policies that support commodity price strength.
The election could also impact agricultural commodities based on each candidate's trade policies, those of a Trump presidency probably being more restrictive with regards to China than that of Harris.
A majority of analysts seem to think that the Russia/Ukraine war might end sooner rather than later under Trump which may lead to a fall in the oil price as ample supply might flood the market, especially if China - the world’s largest oil importer - experiences lacklustre growth.
Tips for trading the result of the US election
Markets are often volatile following a US election. Here are our tips for trading the increased volatility:
- Keep up-to-date with the latest news
It’s important to keep up to date with the latest news to reduce your chances of being caught out by quickly developing stories. Our award-winning trading platform3 has a range of in-built tools to help you, including news feeds from our in-house experts and Reuters. - React in real time
With us, you can trade US indices round the clock2 and you’ll get extended hours on key US shares – exclusive to our clients. Plus, with our free trading app, you’ll be able to take a position even when you’re out and about. - Ensure you don't miss key moves
You can set alerts and signals from within our platform to notify you of key price points to buy or sell, so you never need to be caught out by fast-moving markets. You can change your preferences to receive these alerts by email, SMS or push notification – and you can take a new position or alter an existing one in seconds. - Trade on positive or negative price movements
When you take a position with us, you’ll be able to go long or short whenever opportunity presents itself by trading with CFDs. You’d go long if you expect markets to rise, and you’d go short if you expect them to fall. - Protect yourself against risk
Remember, it's important to manage your risk properly as you'll use leverage when trading CFDs with us. This means that you'd only need to commit a deposit called margin, but both your possible profits and losses will be increased to the full value of your positions. Ways in which you can manage your risk include capping your maximum risk by placing guaranteed stops on your positions.1
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Easy account opening
Easy account opening
Fast execution on a huge range of markets
Enjoy flexible access to 13,000+ global markets, with reliable execution
Deal seamlessly, wherever you are
Trade on the move with our natively designed, award-winning trading app
Feel secure with a trusted provider
With 50 years of experience, we’re proud to offer a truly market-leading service
1 A premium is incurred if a guaranteed stop is triggered.
2 5pm to 9am Monday to Thursday, and 5pm on Friday to 6am on Saturday (UTC +8).
3 Winner for Mobile Platform / App based on the Investment Trends 2018 Singapore CFD & FX Report based on a survey of over 4,500 traders and investors. Awarded the Best Online Trading Platform by Influential Brands in 2019 and 2022.
4 See full terms and conditions here.
IG Asia Pte Ltd (IGA), may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
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