As the US election cycle draws to an end, a lot still hangs in the balance for European stocks says Emmanuel Cau, Head of European Equity Strategy at Barclays. On the one hand, the threat of tariffs could be highly damaging to European equities. On the other hand, US tax cuts could lead to higher consumer spending, which would boost European stocks. Once we have a clear result, Cau expects investors to "unleash animal spirits" over the stock market. He spoke to Anna Edwards, Kriti Gupta and Guy Johnson on "Bloomberg: The Opening Trade".