Whichever candidate wins the U.S. president election next Tuesday, experts say investors will be relieved to shed some uncertainty over what kinds of policies to expect.
But macroeconomic factors like interest rate cuts and geopolitical tensions will be far bigger influences on markets in the coming year than the outcome of the election, they say.
She’s likely to maintain current trade policies and stability, added Gardner, and that could lead to steadier corporate profits. However, there’s been some talk of a potentially weaker U.S. dollar under Harris, which Gardner said could drive some short-term inflation. This"contributes to stronger investor sentiments and stronger investor confidence to invest in the stock market," Heidari said.
Higher spending from the government — which both candidates are likely to do — can be inflationary, making price growth stickier, said Kevin Headland, chief investment strategist at Manulife Investment Management. So can tariffs and tax cuts, he added. Since the U.S. is Canada's biggest trading partner, any changes in the trading relationship between the two countries could be cause for concern, said Headland.
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