Trump Picks Howard Lutnick for Commerce Secretary

Published On Nov 19, 2024, 2:23 PM

Howard Lutnick has been appointed by President-elect Donald Trump as the new Commerce Secretary. Lutnick, a billionaire executive of Cantor Fitzgerald, is set to lead the U.S. tariff and trade agenda and has been a prominent supporter of Trump's economic policies, including advocating for tariffs to protect American industries and calling for corporate tax reductions and an increase in domestic energy production. His past financial contributions to Trump suggest a close alliance aimed at influencing U.S. economic policy.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

XLE View XLE chart on TradingView

Positive

Given Lutnick's focus on tariffs, American energy production, and tax cuts, companies that are expected to benefit from these policies could see a positive market reaction. This suggests potential growth for sectors like energy and domestic manufacturing.

PG View PG chart on TradingView

Negative

Conversely, companies heavily reliant on imports or those in sectors that may face increased tariffs might experience negative pressure. Investors should consider the impact on companies like those in consumer goods that import significant amounts from abroad.

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