Markets (^DJI, ^IXIC, ^GSPC) have endured a challenging season, influenced by the presidential election, Federal Reserve monetary policy, Nvidia (NVDA) earnings, and geopolitical tensions. IG North America CEO JJ Kinahan joins Morning Brief to offer insights into potential market drivers ahead.
Kinahan highlights two key catalysts: the potential for a Santa Claus rally and President-elect Donald Trump’s upcoming State of the Union address. He suggests the rally could be triggered by "a rate cut and some moderate language" from the Federal Reserve following their December meeting.
However, Kinahan emphasizes that Trump’s address will be most important. "What are truly the 3-5 things that are at focus, and how is that going to affect us into the new year?" he asks, pointing out the disconnect between campaign promises and actual implementation.
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