Harris Gains Edge in Debate Against Trump: Market Reactions

U.S. stock futures and the dollar edged lower during early Asian trading hours as Kamala Harris and Donald Trump engaged in their first debate. Analysts noted Harris had a stronger performance. Prediction markets showed Harris' odds improving, while Trump's declined, affecting market indicators like stock futures and currency exchanges.

U.S. stock futures slipped and the dollar edged lower in early Asian trading on Wednesday amid the first debate between Republican Donald Trump and Democratic Vice President Kamala Harris. Analysts observed Harris put in a stronger performance, impacting market sentiment.

Online prediction market PredictIt's 2024 presidential general election market saw Harris' odds improve to 55% from 52% before the debate, while Trump's odds declined to 47% from 51%. Stock futures eased during the debate, with the S&P 500 E-minis down 0.4% and Nasdaq 100 E-minis down 0.5%. The dollar index, representing the U.S. currency's strength against six major counterparts, slipped 0.2%.

According to Brian Nick from NewEdge Wealth, the debate lacked substantive details relevant to investors, with critical issues like tax legislation and Federal Reserve independence going unaddressed. Financial experts conclude that while Harris' performance provided some market relief, significant economic policy changes depend on the makeup of the Senate and the House post-election.

(With inputs from agencies.)