The United States general election is tomorrow, November 8, which will mark an important week for investors. A few things to know to start the week are:
1. FBI Clears Hillary Clinton, Again
Hillary Clinton has been cleared by the FBI for a second time. The announcement was released on Sunday. The presidential candidate was under a second investigation for emails pertaining to her private email server.
The announcement of a new investigation sent Clinton’s poll numbers down heading into the final weeks before the general election.
Markets responded well to the news.
2. Mexico’s Peso Rises, Global Stocks Surge
The market is bracing for a potential Donald Trump win, which is expected to cause markets to decline. News of Clinton being cleared by the FBI sent global stocks rising. Mexico’s peso rose 2% on the news.
USD/MXN is an indicator of election fears. A Trump victory could lead to Mexico’s economy slumping.
France’s CAC 40 rose 1.41%, Germany’s DAX is up 1.63% and the EURO STOXX 50 rallied 1.57% on the news. S&P 500 futures are up 1.41% an hour before trading begins for the day.
3. Disney, NVIDIA and TripAdvisor to Release Earnings This Week
Investors are preparing for volatility on Tuesday, but three major companies are slated to release their earnings this week: Disney (DIS), NVIDIA (NVDA) and TripAdvisor (TRIP). TripAdvisor is slated to release their earnings on Tuesday, November 8, with expectations of a 5% rise in profits.
Disney will release their earnings on November 10, with the company’s subscriber numbers expected to take center stage.
NVIDIA will also release their earnings on Thursday. The company has outpaced the competition with a 23% growth in profits in the last six months. Investors will look to the company’s sales to see if the company can continue its expansion into the automotive market to diversify away from the video gaming niche.
