Traders worldwide have marked November 5 as the date when American citizens will choose their new President. U.S. election polls show uncertainty just a couple of hours before the finale.
U.S. Election polls: The potential Iowan earthquake
You could have read several times that the 2024 elections in the United States will focus on seven swing states, where the final results can still go on both sides. The remaining 43 have been already “given” to Democrats or Republicans. However, in this unprecedented U.S. election campaign, even this so-called obvious statement may not be as obvious as it seems.
According to U.S. Election polls at the beginning of November, Kamala Harris has a chance to win in Iowa – a strong Republican state. Even though the state has just six electoral votes, with such a tight race to the White House, they may become crucial. Moreover, one of the most recognized websites – Polymarket – presented a significant rise in support for Harris during the weekend. Polymarket presents the sentiment of citizens who bet on each of the candidates.
Other notable events in the market
Keep in mind that the market won’t stop during election day. You can trade crypto 24/7 as usual, but interesting things are happening in the equities market.
At the end of October, Apple presented its financial results. The company’s sales exceeded expectations compared to last year’s financial statements. The iPhone 16 turned out to be a more successful premiere than the previous model. The overall revenue of Apple’s flagship product increased by 6%, and the company aims to develop its Apple Intelligence system for devices with iOS. Tim Cook’s company plays a significant role in shaping both NASDAQ and S&P500 indices.
What’s going on at Amazon?
Another persona who has an impact on both U.S. election polls and trading perspective is Jeff Bezos. Amazon stock price grew after the positive financial earnings for the third quarter, especially in the advertising and cloud computing sectors. It shows that investors still heavily focus on AI solutions, which may be a hit for traders.
However, Amazon’s owner got involved in the U.S. election campaign. Bezos is the owner of The Washington Post, one of the most recognizable newspapers in the United States. For over 50 years, the tradition was to present journalists’ opinions about each U.S. election. However, this year, the board blocked that opportunity. Analysts suggest that it might have something to do with Bezos’ other businesses, including aerospace projects. The billionaire aims to capitalize on the close relationship with the future President in this area.
U.S. Election polls and trading
Companies like Apple or Amazon may stand in the background of the U.S. election polls. However, there is one businessman who is a critical player in the current campaign.
Elon Musk invested approximately $100 million to support Donald Trump in multiple ways, including PACs and social media engagement. The billionaire may become one of the most influential people in the world in the upcoming days, but it’s a risky business. If Harris wins, Musk will have serious trouble negotiating contracts with the government, which is currently his biggest client.
That’s why traders have to be extremely careful during the election mayhem. Everybody has to be prepared for the potential fluctuations of Tesla in the market. Moreover, it may affect its competition, such as Lucid stock price during the next couple of days.
Fact-checking, research, calmness
U.S. Election polls cannot show the apparent winner in the race for the White House. That’s why traders eager to capitalize on market volatility must stay focused and thoroughly make their investment decisions. The potential victory of each candidate will create at least a couple of days of increased fluctuations in almost every market.
For more information and tools for technical analysis, please visit SimpleFX blog and Webtrader to explore trading during the U.S. election season.
