On Election Day, Jim Cramer identified ten stocks likely to thrive under either Vice President Kamala Harris or former President Donald Trump, emphasizing companies with strong management and resilience to political shifts. Highlighted stocks include Walmart, Costco, TJX, Netflix, T-Mobile, Palo Alto Networks, CrowdStrike, Palantir, GE Vernova, and Cintas, all positioned to benefit from ongoing market trends and consumer needs.
Bitcoin hovered around $69,000 on election night, with investors bracing for volatile trading as they awaited election results. A win for Trump could push prices to new highs, while a Harris victory might trigger a short-term sell-off. Historically, bitcoin has seen significant gains in the months following elections, influenced by supply changes and Federal Reserve policies.
Stock futures rose slightly as investors awaited election results in a tight race between former President Donald Trump and Vice President Kamala Harris. A Trump victory could boost the S&P 500 by up to 3%, while a Harris win might lead to a 1.5% drop, according to Goldman Sachs. The market also anticipates a Federal Reserve rate decision later this week, with a high probability of a quarter-point cut.
The U.S. election is heating up, with Trump and Harris in a tight race, particularly in key swing states. Investors are closely watching the Federal Reserve's upcoming meeting, where a quarter-point rate hike is anticipated, potentially impacting gold prices, which could reach $2,800 if election results are delayed.
The U.S. dollar remained stable as the presidential election concluded, with minor fluctuations against major currencies. Traders anticipate that a strong performance by Donald Trump and Republicans could bolster the dollar, while a Democratic win might lead to a decline. The dollar has generally strengthened leading up to the election, despite recent dips.
Trump Media reported a $19.2 million loss in the third quarter, with revenue dropping 5.6% to $1.01 million, surprising investors on Election Day. Despite a volatile trading week, shares rose slightly in after-hours trading, while the company holds $673 million in cash and no debt. CEO Devin Nunes highlighted ongoing efforts for growth amid these challenges.
The next U.S. president may confront significant tax changes in 2025 as provisions from the Tax Cuts and Jobs Act of 2017 are set to expire, potentially leading to higher taxes for over 60% of taxpayers in 2026. With the federal budget deficit exceeding $1.8 trillion, negotiations on tax extensions could be contentious, prompting some investors to accelerate income into 2024 and 2025. As advisors prepare for these changes, estate planning remains a critical focus amid the uncertainty.
Kamala Harris, in her bid for the presidency, has outlined her primary goals, emphasizing the need to reduce the cost of living and reform the immigration system. She proposes measures such as a national ban on corporate price gouging for groceries, tax credits for families and small businesses, and down payment assistance for first-time home buyers. Additionally, she aims to invest in American industry and ensure global competitiveness.
Close presidential races historically trigger significant stock market rallies, with the S&P 500 averaging a 3.9% gain in tight contests since 1980. As the 2024 election approaches, polling shows a neck-and-neck race between Donald Trump and Kamala Harris, raising expectations for market performance post-election. Analysts suggest that the resolution of uncertainty typically boosts investor confidence, although unclear outcomes could lead to short-term market volatility.
As Americans prepare to vote in the 2024 election, discontent and division prevail, with two-thirds believing the country is on the wrong track under President Biden. Despite a strong economy recovering from COVID, high grocery and housing prices dampen optimism. Additionally, the Supreme Court's decision to overturn Roe v. Wade has intensified the already contentious political landscape.
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