Trump to name Howard Lutnick to lead Commerce Department

Published On Nov 19, 2024, 1:12 PM

Donald Trump is expected to appoint Howard Lutnick, the CEO of Cantor Fitzgerald and a key ally in his transition team, as the Secretary of Commerce. This position is crucial in guiding policies on domestic manufacturing and technology exports, particularly concerning China. Lutnick, a strong advocate for competitive growth and tariffs, may influence market dynamics and trade relations as he pushes for a more nationalistic approach. His past views on tariffs may pose a challenge for traditional Wall Street sentiments, which generally oppose such measures.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Negative

With Lutnick's anticipated appointment, investors might expect increased volatility in sectors sensitive to trade and tariffs, particularly technology and manufacturing. Stocks in these sectors may see short-term dips as markets react to possible tariff implementations.

XLI View XLI chart on TradingView

Positive

Conversely, industries involved in domestic manufacturing could be poised for growth as the Commerce Department may increase support for U.S. production. This could lead to a more favorable environment for domestic manufacturers, potentially boosting related stocks.

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