Newman: Kamala Harris has flip-flopped. Good for her.

Published On Sep 11, 2024, 12:41 PM

Kamala Harris has shifted her political positions significantly since her 2019 presidential campaign. As a 2024 Democratic candidate, she has moved from advocating for a complete ban on fracking to endorsing it, and from backing the Green New Deal to promoting a diversified energy stance. This change seems strategic, aimed at appealing to centrist voters in key swing states, especially in Pennsylvania where fracking is crucial for jobs. Her new moderate policies are positioned as realistic responses to current public opinion and political realities, contrasting sharply with her previous progressive stances, which were viewed as less feasible.

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Stock Forecasts

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Positive

Harris's shift towards moderate policies, especially concerning energy and healthcare, aligns with current political sentiments that favor a balanced approach. This could enhance the prospects of energy and healthcare-related stocks, particularly those that are politically neutral and benefit from continued fossil fuel production and healthcare expansions under the Affordable Care Act.

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Investors may want to consider that with the shift in Harris's energy policy, companies involved in traditional energy production and natural gas extraction, like those under the XLE ETF, might receive more favorable regulatory treatment, potentially boosting their stock prices.

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