The markets look to Trump's economic picks for signals on tariffs

Published On Nov 19, 2024, 1:02 PM

Donald Trump's upcoming administration raises significant investor concerns regarding economic policies, particularly tariffs. His potential Treasury Secretary pick is crucial as it will signal his stance on trade. The leading candidate, Howard Lutnick, has a pro-tariff stance and could indicate increased tariff enforcement. Meanwhile, competition for the Treasury position remains intense, with other contenders suggested to potentially moderate Trump's aggressive tariff policies. Markets await clarity on Trump's broader economic strategies as significant decisions affecting tariffs loom.

Read full article

Stock Forecasts

SPYView SPY chart on TradingView

Negative

If Howard Lutnick is confirmed as Commerce Secretary, it may suggest a continuation of aggressive tariff policies, which could lead to volatility in markets dependent on imports. This environment could negatively impact sectors like retail and manufacturing that are sensitive to tariff increases.

SPYView SPY chart on TradingView

Positive

If a more moderate figure like Scott Bessent is announced for the Treasury, this might stabilize investor sentiment and relieve some tariff-related concerns which would benefit market sentiment.

Related News

Trump to name Howard Lutnick to lead Commerce Department

Nov 19, 2024, 1:12 PM

The department is a key player in boosting domestic manufacturing and the US-China tech war.

SPY
XLI

Trump’s Treasury Challenge: A Pick Who Loves Tariffs and Calms Markets

Nov 19, 2024, 11:52 AM

The president-elect is considering a conflicting mix of qualities as he decides who will steer his economic agenda.

SPY

Russia’s War Against Ukraine Is Entering Dangerous New Phase

Nov 19, 2024, 11:05 AM

(Bloomberg) -- Vladimir Putin’s war on Ukraine is escalating after months of bloody attrition.Most Read from BloombergParis to Replace Parking Spaces With TreesNew York’s Transit Agency Approves $9 Congestion TollIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftA Bug’s Eye View of Mexico City’s Modernist ArchitectureAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceAs the conflict entered its 1,000th day, Ukraine took advantage of its newly granted long-range miss

XME
SPY