Tuesday 19 November 2019

Is Trump a candidate here too?

US equity indexes closed a little mixed, sp -1.9pts (0.1%) at 3120. Nasdaq comp' +0.2%. Dow -0.4%. The Transports settled -0.3%.




The day began once again with a pre-market message from the US President...

Indeed, Nasdaq remains powerfully higher this year, and is the leader of the US indexes.

Equities opened positive, with new historic highs in the SPX, Dow, and Nasdaq comp'. However, the gains were shaky right from the start, with most indexes turning fractionally negative by 10am.

The afternoon saw further minor chop, leaning fractionally weak into the close. Volatility picked up a little, with the VIX settling +3.2% at 12.86.

Is Trump a candidate here too?

On first glance, you might actually wonder if the next UK election is between Farage, Johnson, and Trump. Part of this morning's political mail from...

... the Liberal Democrats, who are the UK's third biggest party. Whilst they have zero chance of winning, they will be more than willing to form a coalition with Corbyn/Labour party. It is very much the case that Trump is very much a part of UK political chatter.

The UK General election is due Thurs' Dec'12th. Results will be pouring in (appropriately) in the early hours of Friday the 13th. A clear result should be known by around 7am GMT (2am EST).

Ohh, and for the record, I'm leaning to a Corbyn/Labour 'shock victory'. Ironically, the market should be pleased with that, as any BREXIT bill would likely have a 'popular vote' tagged to it, and the UK populace would vote against ANY such bill, and thus remain in the EU.

... and if the UK remains in the EU... stronger GBP and Euro, weaker USD... and a weaker USD would pressure almost everything upward. 

Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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