2024-09-09 12:56:51 pm | Source: Geojit Financial Services
Morning Market Quote : The presidential election is tight now and can go both ways Says Dr. V K Vijayakumar, Geojit Financial Services
Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Market is likely to turn volatile in the coming days as indicated by the spurt in CBOE VIX by 12% to 23.50. Two factors are likely to weigh on markets: one, the outcome of the US presidential elections and two, the Fed decision on rate cut. The presidential election is tight now and can go both ways. The market will be concerned about a possible Trump victory and its consequences on policy, particularly on trade tariffs, which markets fear can trigger a trade war. The other concern is regarding the Fed rate action: whether the Fed will cut by 25bp or 50 bp in September. 25 bp cut may be inadequate in the context of the slowing economy and 50bp cut may confirm recession fears. This dilemma has to be resolved by the Fed chief Powell in his message.
Investors may wait and watch for clarity on these crucial developments. Meanwhile, weakness in the market can be used to slowly accumulate high quality largecaps and defensives like pharmaceuticals."
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