Trump's Treasury pick, tariffs, and retail therapy: 3 themes that drove markets this week

Published On Nov 30, 2024, 7:45 AM

This week, US stock markets reached record highs, driven by optimism regarding President-elect Donald Trump's pick for Treasury Secretary, Scott Bessent. Investors are hopeful for a business-friendly environment post-inauguration. Positive factors included steady inflation, decent consumer sentiment, and a promising start to the holiday shopping season, with projected spending near $989 billion. However, potential tariffs proposed by Trump on goods from Canada, Mexico, and China introduced some market uncertainty, raising concerns about inflation and consumer impact.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY

Positive

With the market reacting positively to Trump's Treasury Secretary pick and favorable consumer trends, particularly in retail, there seems to be momentum for continued growth in the stock market. However, potential tariffs could pose challenges. Overall, the expectation is that the market will likely maintain a positive outlook given the present consumer sentiment and spending data.

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