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US gains advantage over China as Trump gets ahead of Biden in presidency race

14:19 | 26/08/2020

The US stock market set a record, the indexes soared to new heights and brought a huge advantage for Donald Trump over his rival Biden. This is not a good signal for China.

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us gains advantage over china as trump gets ahead of biden in presidency race
CNN poll shows that Trump is gaining back his advantages over Biden (Photo: CNN)

US stock market shows positive signals

The US stock market continues to record incredible growth with the broad-range S&P 500 index surpassing 3,400 points for the first time in history thanks to the rise in technology stocks and a number of stocks benefiting from the market re-opening.

According to ThanhNien, all four largest US capitalization stocks rose sharply, reached their peaks and pulled the general stock market up, despite the fact that the US still stuck on a new bailout package due to disagreement between the two parties.

Not only the technology group, but also a series of stocks in the aviation, yachting, and tourism sectors also flourished in the context of the Donald Trump administration issuing urgent permits to the new Covid-19 treatment.

The reason behind that impressive rise in stock is investors' expectations of the steady reopening of the US economy after the Donald Trump administration licensed new COVID-19 treatment.

Meanwhile, Financial Times reported that the Trump administration is also considering quick monitoring of a test vaccine developed in the UK for use in the US before the presidential election on November 3.

Trump said on August 23 that plasma treatments reduce the death rate by 35%, cited by CNN. Data on the number of new COVID-19 infections per day in the US also continued to decline since mid-August.

us gains advantage over china as trump gets ahead of biden in presidency race
Trump gets ahead of Biden, putting China in a disadvantaged position. (Photo: Thanh Nien)

Trump gets ahead of Biden, putting China in a disadvantaged position

The positive signals on the US stock market are giving Trump advantages in the US election. According to the latest CNN survey, Biden's lead over Trump among registered voters is significantly narrowed, the rate now is 50% vs. 46% for Biden and Trump, respectively. The rates recorded in July were 55% and 40%. Notably, in 15 "battlefield" states, Trump has the support of 10 states while Biden has 5. This is a signal that Trump is more likely to win electoral votes.

The situation is somewhat similar to the 2016 race between Hillary Clinton and Donald Trump, while Clinton continuously led Trump up to 10 percentage points, but suddenly lost. Unlike the 2016 race, Donald Trump is the current US president who has passed series of policies that brought a breakthrough to the US economy in general and the US labor market in particular before it was collapsed by the COVID-19 pandemic.

The competition against China gains back the US balance in international deals, commerce, transaction, as well as the US position at international level.

The US stocks continuously hit records, technology index reaches new heights, making investors excited despite the instability of COVID-19 pandemic. The US-China tensions helped the US technology giants break through. The war between Trump administration and China has helped investors realize that US technology companies still have superior strength compared to China and bring many opportunities for American businesses.

To "save" the US stock market, the Fed has only used a portion of the emergency lending programs worth about $ 2,000 billion, showing that the US central bank has plenty of room to ensure liquidity for systems.

Investors are waiting for signals from an important event: Jackson Hole Conference, where the signals of monetary policy can be given. This year's conference will address the monetary policy of the US government, the US economy as well as the global economy. FED Chairman, Jerome Powell is scheduled to deliver a speech on the morning of August 27, local time.

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