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September 11, 2024
September 11, 2024

Trump vs Harris debate – What we’ve learned

The debate featured tense exchanges as both candidates aggressively challenged each other on various hot topics. Key issues included inflation and whether U.S. citizens are better off than they were four years ago, particularly in light of rising energy costs. Former President Trump pressed Vice President Harris on her stance regarding energy and fracking, highlighting her continued support for a ban on fracking in the U.S. Inflationary fears persist, with many consumers feeling worse off than before. Advocates argue that energy independence could help reduce gas prices and lower inflation.

The debate also addressed significant international conflicts, including the wars in Ukraine and Gaza, which remain contentious globally and divide not only the U.S. but also the international community. Trump mentioned the risk of the Ukrainian conflict escalating into a nuclear confrontation, given that Russia possesses the largest nuclear arsenal and has threatened its use in response to perceived attacks on its sovereignty. Meanwhile, Democrats emphasize the importance of supporting Ukraine as long as Russia occupies its territories.

Another pressing issue for U.S. citizens is the ongoing crisis at the Southern border, as an influx of migrants from Latin America strains resources in border regions. Additionally, the topic of abortion, particularly late-term terminations, was discussed, with Republicans advocating for states to independently determine their laws on the matter, in contrast to the Democratic preference for federal oversight.

The debate was heated, resulting in slight market movements. U.S. stocks dipped, and the dollar edged lower in the early morning Asian market. Stock futures declined marginally by 0.5% and 0.65% for the S&P 500 and Nasdaq 100, respectively. Bond yields also fell slightly, as the prospect of a U.S. Federal Reserve rate hike seems increasingly likely.

In South Africa, the market showed a muted response to the debate, with the JSE All Share Index only slightly down by 0.56% since the morning trade. The exchange rate moved down by 4 cents due to dollar weakness early in the morning and is gradually returning to the R17.92/$ mark seen prior to the Trump vs. Harris debate.


Frederick Mitchell

Frederick Mitchell is an economist with 16 years of experience, specializing in the intersection of politics, economics, and finance on both domestic and international levels.

His extensive background spans the private sector, where he worked in equity and investment, as well as the public sector, where he served as a senior economist at SARS.

As part of the Aluma team, Frederick leverages his expertise to identify sectors with growth potential and assess those with higher risk, providing valuable insights and strategic advice.


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