Harris odds plateau on PredictIt; Trump Media hits record low
Stock indexes pare; Nasdaq, S&P 500 slightly green, Dow reverses
Cons disc gainer among S&P sectors; energy biggest loser
Europe's STOXX index up ~0.1%
Dollar gains; gold dips; bitcoin, crude both slide >2%
U.S. 10-year Treasury yields edge up to ~3.88%
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HARRIS ODDS PLATEAU ON PREDICTIT; TRUMP MEDIA HITS RECORD LOW
Vice President Kamala Harris' odds of winning the November U.S presidential election appear to be plateauing on PredictIt in a neck-and-neck race with former President Donald Trump following her first interview with a major news organization since becoming the Democratic nominee.
At the same time, shares of Trump Media & Technology Group DJT.O, which some retail traders have bought on expectations Trump will win the November election, are sinking to record lows.
With nine weeks left in the contest for the White House, contracts for a Harris victory are trading at 55 cents, up 1 cent from Thursday, with a potential $1 payout, on the PredictIt politics betting platform.
Trump contracts are at 48 cents, down 1 cent from Thursday and down from as much as 69 cents in mid-July. Harris contracts peaked at 59 cents on Aug. 11.
Some critics had suggested Harris might be less polished in unscripted settings like her interview with CNN, but she appeared to make no major mistakes on Thursday.
Oddschecker.com, which aggregates data from several betting platforms, has Trump and Harris at 50% and 48%, respectively.
Trump Media is majority owned by Trump and its main asset is the Truth Social app popular with some conservatives. With its stock down 0.8% on Friday, its market capitalization stands at $3.9 billion down from over $9 billion in late March.
Nottingham Business School Professor Leighton Vaughan Williams, who studies politics betting, has found that, going back to 1868, betting markets correctly predicted the outcome of all U.S. presidential elections, except those in 1948 and 2016.
However, so far in this election cycle, they are offering only a toss up.
(Noel Randewich)
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PredictIt https://tmsnrt.rs/3MoZDgb
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