Financial analysts hope to see better days ahead for the stock market after the Nov. 8 elections after it closed with the bad week of price declines, speculating that investors are holding on to their horses.
With the US elections still too close to call, according to USA Today, investors are still anxious about economic uncertainties in the absence of solid economic and trade policy reforms. Economic experts attribute this to the varying statements of opposing candidates regarding their stance to start boosting the stock market.
As the market closed Friday, the Standard and Poor's 500 index closed with low numbers marking the ninth- day of a losing slide in 36 years. Industry experts, however, believe that the drop is not a considerable one and is somehow balanced by a rise in employment for the past months. Add to the fact that there are days when the market has closed with far bigger drop percentages in one day, according to senior index analyst Howard Silverblatt.
On the other hand, the slowdown of investment circulation during the last week may continue to affect forecast for gold in the market, which may further lead to increased gold buying in the event of a Donald Trump victory. Market players and overseas investors are believed to be betting their guns for a Hillary Clinton triumph which they feel could ease up market volatility.
However, it was a strong week for gold prices in the market, according to economic analysts from Economic Calendar, where it was seen reaching an all-time high of $1,300 per ounce. This was also the same trend that was seen for precious metals in the face of deteriorating dollar levels last week. Last week the market saw the Mexican peso climbing the exchange rate against the US dollar.
All the same, economists are hopeful that regardless who wins the election they expect a more extensive revamp and renewed focus by an incoming administration with a more solid economic and financial portfolio for the country. This would allay fears of investors wary of US election results and help them regain confidence in the US market.
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