Donald Trump has separated himself further from his rival Kamala Harris in the November election as the official online prediction market ‘Kalshi’ has Trump leaning toward White House at 59%, while Harris has 41% odds of winning.
The odds were 55-45 in Trump’s favour just a week ago, and a day before that were 50-50.
The share price of Trump Media & Technology Group Corp (DJT) rose 5.81% yesterday in Nasdaq Composite as the index notched a gain of 0.27%. Meanwhile, Dow Jones and S&P 500 both fell by 0.80% and 0.18%, respectively on Monday.
Still, a Reuters/Ipsos poll as of Tuesday has the Democratic Kamala Harris taking a slight edge over the Republican Donald Trump with 45% to 42%.
Global hedge funds are increasingly favoring stocks that are expected to thrive in the event of a victory by Republican presidential candidate Donald Trump, as indicated by a recent analysis from JPMorgan last week. The analysis delves into shifting market positioning leading up to the upcoming election.
JPMorgan highlighted that overall, the flow of funds so far this year has displayed a significant correlation with the perceived likelihood of Trump securing the presidency. The American investment bank cautioned that there is a possibility of a downturn and change in direction in the near future if Trump’s chances of winning diminish.
According to insights from JPMorgan’s team monitoring hedge funds’ asset allocations, portfolio managers have been actively acquiring assets aligned with a pro-Republican stance. Conversely, assets anticipated to flourish under a Democratic administration have been offloaded by hedge funds. Notably, JPMorgan cited renewable energy as an example of an asset class that experienced rapid divestment in recent weeks amidst a surge in Trump’s electoral prospects.
