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.
Stock Forecasts
SPY
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.
SPY
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.
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