OPEC's job of trying to prop up oil prices has just got much harder. With Donald Trump winning the U.S. presidential election, the 14-country oil-producing cartel may have to battle a sourer outlook for the global economy and weaker demand for crude.
Donald Trump's economic advisor Peter Navarro on Wednesday sought to reassure the markets, saying the Republican president-elect would help boost economic growth once in the White House, aided by a Republican-controlled Congress.
Crude oil reversed most of its early losses of almost 4 percent to trade near $46 a barrel on Wednesday, as the market recovered from an initial Brexit-like reaction to Donald Trump's surprise victory in the U.S. presidential election.
U.S. stocks futures pointed to a sharply lower open for Wall Street on Wednesday, as a market that had been projecting an election victory by Democrat Hillary Clinton scrambled to recalibrate to an upset win by Republican Donald Trump.
U.S. stock index futures were sharply lower early on Wednesday but well off overnight lows, as a market that had been anticipating an election victory by Democrat Hillary Clinton scrambled to adjust to an upset win by Republican Donald Trump.
The conventional wisdom is that active investors and market participants prefer Hillary Clinton over Donald Trump to maintain the seven-year stock market advance that began in 2008 and took out prior highs in 2013. According to a new election eve survey – that is only partially true.
The dollar recovered most of the 2% it had earlier lost on Donald Trump's shock victory in the U.S. election on Wednesday, with investors not clear on whether a Trump presidency would be unambiguously bad for the currency.
In advance of the US Presidential election, Oanda market strategist Alfonso Esparza discusses volatility and shares elite traders’ top tips to mitigate the effects of shock announcements. There is very little time in the fast-moving Forex market to dwell on the past. The best traders learn and move on.
U.S. stocks slipped in cautious trading on Tuesday morning as Americans headed to elect their next president, with the odds currently favoring Democrat nominee Hillary Clinton. Clinton has a 90% chance of defeating Republican nominee Donald Trump, according to the final Reuters/Ipsos States of the Nation poll released on Monday.