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Reading: Best stocks to invest in if Trump or Harris win the US presidential election
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Gulf Press > Business > Forex > Best stocks to invest in if Trump or Harris win the US presidential election
Forex

Best stocks to invest in if Trump or Harris win the US presidential election

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Last updated: 2024/10/24 at 4:04 PM
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As the 2024 US presidential election nears, Wall Street is closely watching the race between Donald Trump and Kamala Harris. The market is trying to position itself for all eventualities by analyzing which equities or industries may benefit from the policies of either candidate. While Kamala Harris leads Trump in the polls, betting markets have started leaning towards Trump. Ultimately, the Electoral College will determine the winner, with seven key swing states potentially deciding the outcome.

Wall Street generally favors Republican candidates due to their emphasis on low taxes, reduced regulation, and increased corporate profits. However, Trump’s support for tariffs has created uncertainty in the market, particularly concerning their impact on inflation. A Trump win is expected to lead to higher inflation and potentially higher interest rates, affecting various industries such as automotive manufacturers and electric vehicle companies.

Prominent hedge fund manager Stanley Druckenmiller believes a Trump victory is likely, predicting a short-term stock market rally followed by a slowdown caused by higher interest rates. While historical data suggests that certain scenarios, such as a divided Congress, may result in better market performance, experts caution against placing too much emphasis on the election outcome when making investment decisions.

Analysts have identified potential stock winners under both a Trump and Harris presidency. Stocks like Baker Hughes, L3Harris Technologies, and Coinbase are expected to benefit from a Trump win, while companies such as Deere, Centene, and Dr. Horton may see gains under a Harris administration. Industries like defense, finance, and renewable energy are also expected to fare well depending on the election results.

Overall, experts advise investors to focus on long-term trends rather than trying to predict market movements based on the election outcome. Regardless of who wins the presidency, companies will adjust their strategies to adapt to the expected policy implications. As the election approaches, market participants will continue to monitor developments and adjust their portfolios accordingly to capitalize on potential opportunities.

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News Room October 24, 2024
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