![]() ![]() Yet markets are priced for optimism, as investors bet that whatever China's policy settings, they are unlikely to be as accommodative as the United States'. Commodity traders reckon trade tensions might drive plans for stockpiling, especially on materials where China lacks local supply, such as copper. Goldman Sachs says there may not be a target at all China has already done away with one for 2020. Sources suspect China is poised to lower its growth targets. The conclave is a closed-door affair, but it is clear that shifts are afoot. 26-29 to settle on the next five-year economic plan. Trump-Biden clash over climate change adds to cloud over oil stocksĬhina's Communist Party leaders meet in Beijing Oct. Biden tax increase might not be so bad for big banks The Invesco Solar ETF, for example, is up 10% this month on hopes of a potential Democratic sweep.īut a comeback in the polls by Trump could lift conventional energy companies and tech stocks, which would take an earnings hit from Biden's proposed tax hikes. ![]() Signs that Biden is cruising to a strong finish could benefit alternative energy, cyclical stocks and cannabis firms. presidential election race will test the durability of the Biden trade - assets viewed as sensitive to the political fortunes of Democratic challenger Joe Biden, who has widened his lead over President Donald Trump in recent weeks.
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