Autos: Twists and turns with U.S. election scenarios
S&P 500, Nasdaq dip, Dow up slightly
Utilities lead S&P 500 sector gainers; Materials weakest group
Dollar flat, bitcoin slips; crude up; gold up >1%
U.S. 10-Year Treasury yield edges down to ~3.72%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
AUTOS: TWISTS AND TURNS WITH U.S. ELECTION SCENARIOS
With less than two months to go before the U.S. Presidential election, UBS analyst Joseph Spak was out with some research this week suggesting potential outcomes for the auto industry depending on who wins on Nov. 5. All of the outcomes he described seemed to come with some worries.
If the Democrats win, Spak says he "would expect a mostly status quo scenario for EV-related and tariff policy," which could come with out-performance in EV related stocks. But Spak said "taxes could be a headwind for the entire group" in this scenario.
But if Democrat Kamala Harris wins the White House, but end up with a mixed or Republican controlled Congress, this could make it harder to implement tax changes.
On the other side, if the Republicans win, Spak sees more potential for change. If re-elected, Donald Trump could try to undo EV tax credits and look to loosen Environmental Protection Agency (EPA) standards. He may also try to cut U.S. taxes.
If this is the case, Spak says he sees a positive initial reaction for companies with exposure to traditional internal combustion engine vehicles such as Ford, General Motors GM.N, Phinia PHIN.K, and American Axle & Manufacturing Holdings AXL.N.
But, if Trump wins and implements tariffs on all imports including from Mexico Spak says "this would be highly disruptive for the entire US automotive value chain."
And he notes that while Trump is "anti China vehicles imports (like the Dems)" he is in favor of Chinese automakers building cars in the U.S. But he says this "would also be highly disruptive to the current US auto supply complex."
On Friday shares of EV maker Tesla TSLA.O are down ~2% while GM shares are off 0.3% and F is down ~1%. AXL is down 1.4% while PHIN is up 4.7%.
(Sinéad Carew)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
GLOBAL BUSINESS SURVEY: RECESSION WORRIES CONTAINED, TRUMP VIEWED AS MOST SEVERE GEOPOLITICAL RISK - CLICK HERE
INDIVIDUAL INVESTOR BULLS BULK UP - AAII - CLICK HERE
NVIDIA HAS STRONG CORRELATION WITH SHORT INTEREST, S3 OFFERS INSIGHTS - CLICK HERE
HAPPY $5.3 TRILLION TRIPLE WITCHING FRIDAY - CLICK HERE
WALL STREET STEPS BACK AS IT DIGESTS FED WEEK - CLICK HERE
KBW SAYS WELLS FARGO'S LATEST REGULATORY WOES RAISE UNCERTAINTY AROUND ASSET CAP LIFT - CLICK HERE
S&P 500 INDEX: NEW HIGHS, BUT ORBS OF INFLUENCE ARE OUT THERE - CLICK HERE
TIME TO FIGHT THE FED? - CLICK HERE
BOE AND FED TO KEEP GOING THEIR SEPARATE WAYS - CLICK HERE
HIT THE SHOPS! SELL THE SHARES - CLICK HERE
CHINA WORRIES HIT EUROPE, AGAIN - CLICK HERE
SET FOR LOWER OPEN, BUT ALL GOOD REALLY - CLICK HERE
MORNING BID - BOJ BRINGS YEN INTO SHARPER FOCUS - CLICK HERE
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
