Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel says
Published On Nov 11, 2024, 8:36 AM
Finance professor Jeremy Siegel from the Wharton School described President-elect Donald Trump as the most pro-stock market president in U.S. history, indicating that his policies are expected to boost the stock market. Investors reacted positively to Trump's pledges of tax cuts and deregulations, pushing major indices like the S&P 500 and Dow Jones to record highs. Stocks like Tesla and banks saw significant rallies, though concerns about potential trade policies under Trump that could create inflation loomed on the horizon.
Stock Forecasts
SPY
Positive
The expectation of continued tax cuts and deregulation under Trump is likely to continue driving market optimism, especially for growth-focused sectors, meaning stocks could continue to see upward momentum in the near term. However, potential trade tariffs may offset some gains if inflation concerns materialize.
JPM
Positive
Given the surge in confidence regarding tax cuts, large financial institutions are poised to benefit greatly from continued policy favorability under Trump. The expectation of decreasing regulatory burdens could enhance their profitability.
TSLA
Positive
Tesla's strong performance reflects investor enthusiasm for companies closely aligned with Trump's business-friendly policies. As long as these favorable conditions persist, Tesla's stock may continue to rise.
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