Donald Trump’s recent victory in the Iowa Republican contest has not only solidified his frontrunner position for the 2024 presidential race but has also sent ripples through global markets, as it did after his win in the 2016 Presidential election. As leaders worldwide closely monitor Trump’s escalating influence within the United States, concerns arise regarding the potential ramifications of his return to power.
Before Trump got elected as US President in November 2016, Dow Jones Industrial Stock Market Index (DJI30) was trading within a range of 17,478 to 18,669. Just after his election DJI30 index skyrocketed to 29,402 in January 2020 with a gain of 10,733 (+57.49%) in 3 years and 5 months as shown below:
At the prestigious Davos summit, U.S. executives are confidently predicting a Trump victory in 2024, reflecting a sense of assurance and minimal apprehension within corporate spheres. Analysts are echoing this sentiment, suggesting that Trump may emerge as the sole electable GOP candidate, underlining his strategic significance in the intricate political landscape.
This political resurgence by Trump is not confined to the realm of politics alone; it holds the potential to significantly impact financial markets. Traders in the stock and forex market are particularly attentive, recognizing that shifts in the political landscape can translate into substantial trends. In this blog post, we will delve into the present and future, exploring how Donald Trump’s political trajectory may intersect with the dynamic world of stock markets as per below analysis for DJI30 and SPX500 (S&P500) indices.
DJI is now trading at an all time high of 37,857 surpassing its previous high of 36,954.9 printed in the month of January 2022. As per our proprietary analysis, as an effect of Trump getting elected (if he gets elected or even on the anticipation that he is going to get elected) again as US President, and if DJI stays above 36,954.9, it may see new highs of:
- 38,907
- 39,230
- 40,000
- 41,267
- 41,984
- 42,124
- 42,960
- 45,320
On the other hand if DJI breaks down below 36,954.9 and stays below we will have our downside targets through our future blog post.
SPX500 is now trading at an all time high of 4,840.09 surpassing its previous high of 4,817.53 printed in the month of January 2022. As per our proprietary analysis, as an effect of Trump getting elected (if he gets elected or even on the anticipation that he is going to get elected) again as US President, and if SPX500 stays above 4,817.53, it may see new highs of:
- 5,000
- 5,136
- 5,178
- 5,378
- 5,454
- 5,637
- 5,860
- 5,938
On the other hand if S&P500 breaks down below 4,817.53 and stays below we will have our downside targets through our future blog post.
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