Dear Sarah and David

I would love to attend, however it is not practical for me to do so. I would like to know what the experts think about key markets at this juncture. The suspense is killing me.

Is it possible to get a copy of the audio or a summary after the event? 

David Fuller's view

Thanks for your interest in Markets Now and if you ever visit London, it would be a treat to see you. 

There is certainly plenty of uncertainty and suspense, regarding both political and economic shifts and I suspect that will remain with us for quite a while. 

I will share a few thoughts with you and of course Eoin and I comment on themes most days.  I will also post PowerPoint presentations from Markets Now shortly after the event.

I use a top-down approach on a global basis, so even for the Australian stock market, which I assume you are interested in, keep an eye on both Wall Street and China, which are best monitored with price charts.  That pre-election low is important initial support for the S&P 500 Index.  I would give China’s Shanghai Composite Index the benefit of the doubt while it maintains its sequence of higher reaction lows.

The US has responded strongly to Trump’s stimulative proposals, but he will not actually become president until January 20^th, so expect some volatility.  China is reflating and that has revived its stock market.  These measures should be good for commodities, particularly industrial resources, which have been an outperforming sector since January. 

If so, that should underpin your S&P ASX 200 Index which had been mostly range bound for years.  Australia’s prospects will further improve if the S&P ASX Financials break up out of their current range.  However, these may only be cyclical medium-term moves as commodity strength is a late-in-the-cycle development, before rising interest rates and bond yields rein in performing stock markets.