Wall Street is optimistic about Trump 2.0

Published On Nov 18, 2024, 9:00 AM

Wall Street is showing optimism following Donald Trump's reelection, with major financial figures expressing confidence that his administration will positively impact the economy. This belief is reflected in a significant rally of the S&P 500, attributed to potential tax cuts and regulatory rollbacks. However, concerns about proposed tariffs on China may dampen profits for some companies, given their revenue dependence on Chinese markets. Despite these risks, many analysts are bullish on the equity market, citing strong technicals and the likelihood of a soft landing for the economy amid Fed easing policies.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

Given the optimistic sentiment around Trump's reelection and potential pro-growth policies, particularly in tax and regulation, the market may continue to see upward momentum. However, concerns about tariffs and inflation could temper growth expectations.

BACView BAC chart on TradingView

Positive

Despite potential headwinds from tariffs, the overall positivity in Wall Street's response suggests strong investor confidence in U.S. economic growth under the new administration. This confidence may lead to an upward trend in the stock market.

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