The US economy is expected to remain relatively strong now the election is over, but consumer spending and pressure on the oil price are likely to determine how stock markets fare over the coming year, suggests Gil Knight, senior US fund manager of the US Opportunities fund at Gartmore.
Following the election win for Bush yesterday, Knight is predicting the US market will remain strong in the months after the election, particularly as markets usually perform well during November and December and the investment house is now positioned for a year in rally. His own belief is people were looking more at issues of morality, over the Iraq war and the economy, until the US electorate heard Osama Bin Laden’s threat to the United States. It was that small statement which may have changed the outcome of the election and the direction of the US markets, suggests Knight. “The...
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