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Donald Trump has informally discussed the possibility of appointing billionaire hedge fund manager John Paulson as Treasury Secretary if he wins the presidency again in 2024, according to Bloomberg. Paulson, whose net worth is estimated at $3.8 billion, previously served as a top economic adviser during Trump's 2016 campaign. No official decisions regarding the cabinet have been made yet.
Trump Media shares, trading as DJT on Nasdaq, faced multiple halts during a volatile session, with trading volume exceeding 134 million shares by early afternoon. The stock surged over 224% this month, driven by pro-Trump retail investors and political betting markets favoring Trump over Harris. Despite significant losses in recent quarters, the company's market cap remains above $10 billion, with Trump's stake valued at over $6 billion.
Rohan Patel, a former Tesla executive, highlights the contrasting support for electric vehicles (EVs) under Trump and Biden. While Trump’s administration favored foreign-made vehicles and neglected tax credits for early EV leaders like Tesla, Biden's policies revived substantial incentives and support for domestic manufacturing. The NEVI program, with $5 billion allocated over five years, aims to enhance EV infrastructure, while recent reforms to the 30C tax credit significantly boost investments in charging stations.
According to UBS, Trump's proposed tariffs could lead to a 10% decline in the S&P 500, with projections of 5,200 points in 2025 and 5,650 in 2026. The analysis suggests significant negative impacts on global markets, particularly for foreign stocks, while a Republican victory may favor corporate tax cuts and deregulation. In contrast, a Democratic win could benefit European and emerging market stocks by reducing trade policy risks.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Trump considers John Paulson for Treasury Secretary in potential second term
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11:18 11.10.2024
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