GCC-registered traders have enabled American based companies to surge ahead with the five most traded stocks in the first quarter of 2017
The election of President Donald Trump’s on 8 November last year, reflation trade has continued to accelerate since Trump’s inauguration on January 20, as evidenced by the Dow Jones Industrial Average climbing 6.12% and the S&P 500 index notching a 5.32% gain during Trump’s first 100 days.
The Trump effect appears to have encouraged regional investors, with U.S. companies including Panera Bread Co., The Madison Square Garden Co. and Amazon.com Inc. proving hot picks for regional investors in Q1. In order of ranking, Saxo Bank’s top five most traded stocks by regional investors in Q1 2017 were: Unilever Plc, Panera Bread Co., The Madison Square Garden Co., Danone and Amazon.com Inc.
While the improvement of global economic data in Q1 had a positive impact on U.S. reflation trade, the positive return in equities may yet belie intensifying doubts about Trump’s ability to overhaul taxes, loosen Wall Street regulations and boost infrastructure spending – all of which could curtail recent growth. Until then, U.S. markets look set to continue to perform, according to Mario Camara, Head of Saxo Bank Dubai.
“Many experts seem intent that U.S. equities are due for a correction in coming weeks and months. While that remains to be seen, what cannot be argued is that regional investors have responded very positively to the Trump effect in Q1. Our regional clients have reacted very positively to the high performance of U.S. markets and their ongoing resilience, as highlighted by the Nasdaq Composite Index closing at a milestone of 6,000 for the first time ever in the last week of April,” said Camara.
Founded in 1992, Saxo Bank reports that the most traded Q1 stocks on the SaxoTraderGO platform globally were Apple, Amazon, Facebook Inc., Goldman Sachs and Alibaba.