Trump Wins Republican Trifecta as GOP Retains House Majority
Published On Nov 13, 2024, 7:33 PM
Donald Trump and the Republican Party have secured a trifecta by retaining control of the House, Senate, and Presidency. This strengthens Trump's influence, allowing him to push for further tax cuts and roll back regulations affecting Wall Street and the energy sector. The GOP's slim majority could lead to internal struggles, yet it potentially removes the threat of Democrat-led investigations into Trump. These developments are likely to affect economic policies significantly, including U.S. foreign aid to Ukraine and immigration reforms.
Stock Forecasts
XOM
Positive
With a Republican trifecta, businesses in the financial and energy sectors could benefit from deregulation and potential tax cuts. Companies like Bank of America and ExxonMobil might see increased stock performance due to favorable government policies.
LMT
Negative
The potential risks include a slowdown in international aid, notably to Ukraine, which may affect defense and related sectors. Companies reliant on government contracts for international operations might face headwinds.
Related News
What Elon Musk and Vivek Ramaswamy could abolish in the name of government efficiency
Nov 13, 2024, 1:43 PM
President-elect Donald Trump charged Elon Musk and former presidential candidate Vivek Ramaswamy with cutting government spending. Years of comments from both men suggest they could aim to do much more than slim down Washington.
Exxon Chief to Trump: Don’t Withdraw From Paris Climate Deal
Nov 12, 2024, 9:23 AM
Darren Woods was one of only a few Western oil executives attending a global climate conference in Baku, Azerbaijan.
California drivers brace for possible gas price hike after state regulators approve tighter climate standards
Nov 10, 2024, 9:35 PM
California drivers are bracing for a possible gas price surge after state regulators approved tougher standards for climate emissions.