Biden
inauguration day

After defeating Donald Trump in November’s US election, Joe Biden will become the 46th president of the United States on Wednesday, 20th December.

  • Democrats take control of the House and the Senate
  • Biden certified by Congress
  • Take a position on the Biden 30 index
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Key election events

Discover what a Joe Biden presidency could mean for US markets and the country’s foreign and domestic policy by reading market analyst Joe Perry’s in-depth analysis in our Outlook 2021 guide.

Outlook 2021 is our comprehensive guide to all the major political and macroeconomic themes set to dominate the markets this year. Start reading now by following the link below.

OUTLOOK 2021

Compare the candidates' economic policies

How do the Democratic and Republican economic policies stack up against each other? We compare individual aspects of each party’s mandate:
Joe Biden

Joe Biden

Think Biden will lead the Democrats to victory?
Trade the Biden 30 index, a basket of stocks that could be boosted under a Biden presidency.
President Trump

Donald Trump

Think Trump will triumph once more?
Take a position on the Trump 30 index, stocks most likely to be impacted positively if he retains control of the White House.
Taxes
Neither candidate has outlined plans for any meaningful tax increases, though given the positioning of the parties, tax hikes would be more likely under Biden. 		Taxes
A continuation of the Trump presidency would likely see more tax cuts as the Republican party continues with its pro-business agenda.
Spending
While neither candidate appears particularly concerned with the federal budget deficit, Biden supports elements of the ‘Green New Deal’ which could impact the environmental and energy sector.		 Spending
Throughout his administration, Trump has focused on state and local government infrastructure spending, with another $1 trillion stimulus package proposed to support the economy through the current pandemic.
Trade
Both candidates seemingly view China’s rising prominence as a potential threat, so tensions between the world’s two largest economies may remain elevated after the election regardless.		 Trade
Both candidates seemingly view China’s rising prominence as a potential threat, so tensions between the world’s two largest economies may remain elevated after the election regardless.
Regulation
Biden may be more likely to impose new rules to protect individuals and the environment, a dynamic that could be significant for companies in the energy and financial sectors.		 Regulation
Trump has aggressively cut red tape for businesses, which has supported the equity market rally despite one of the worst unemployment crises in recent history.

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Key markets to watch

Key markets to watch leading up to Tuesday, 3rd November

Add these markets to your watchlist as volatility builds both before and after the election.

Add these markets to your watchlist as volatility builds both before and after the election.

Add these markets to your watchlist as volatility builds both before and after the election.

Add these markets to your watchlist as volatility builds both before and after the election.

Market Sell Buy Spread
EUR USD
GBP USD
USD JPY
USD/CHF
USD/CAD
AUD/USD
NZD/USD
USD MXN

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Market Sell Buy Spread
EUR USD
USD JPY
Wall Street
US SP 500
US Tech 100

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Market Sell Buy
Alphabet Inc A
Apple Inc

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Market name Min. spread (around market spread) Min. spread hours (UK) Margin from*
Gold 0.3 points 23:00 - 22:15 5%
Silver 2.0 points 23:00 - 22:15 10%
Copper 40 points 23:00 - 22:15 10%
Platinum 0.83 points 23:00 - 22:15 10%
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Markets Spread pricing Spread Margin from*
UK Crude Oil Monthly Future Fixed 5 10%
US Crude Oil Monthly Future Around market spread 0.4 10%
US Crude Oil Daily Future Around market spread 0.3 10%
Gas Oil Monthly Future Fixed 150 10%
Heating Oil Monthly Future Around market spread 40 10%
Natural Gas Monthly Future Around market spread 18 10%
Soybean Oil Monthly Future Around market spread 8 10%
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