What we know about US H-1B visas Trump supporters are clashing over
Published On Dec 30, 2024, 7:05 PM
The article discusses the ongoing debate surrounding the H-1B visa program, which allows US companies to employ skilled foreign workers. While some argue that it undermines American jobs, proponents, including President-elect Trump and tech leader Elon Musk, argue it attracts top talent. In fiscal year 2023, there were 386,000 H-1B approvals, a decrease from the previous year. The article also highlights the industries heavily utilizing these visas—primarily technology, with Amazon being the leading employer. With a rise in applications for fiscal year 2024, the outcome of the H-1B program will likely be a significant issue for the incoming administration.
Stock Forecasts
QQQ
Positive
Given the rise in applications for H-1B visas and its importance to major tech employers like Amazon, Google, and Tesla, the tech sector may see positive momentum. If the new administration maintains support for the program, it could enhance talent availability and ultimately drive growth in technology stocks.
AMZN
Negative
The backlash against H-1B visas from immigration hardliners could result in regulatory risks for companies heavily dependent on skilled foreign labor, possibly affecting their stock performance negatively if restrictions come into play.
Related News
10 charts that tell the story of markets and the economy in 2024
Dec 30, 2024, 6:00 AM
Here's why the S&P 500 is on track to rise more than 20% in two consecutive years for the first time since the late 1990s.
Stock market enters final stretch of 2024: What to know this week
Dec 29, 2024, 7:47 AM
Stocks will look to rebound from a sluggish start to the "Santa Claus" rally in the final trading days of 2024.
Stock market today: Dow, S&P, Nasdaq slide on Big Tech losses, but weekly gains hold
Dec 27, 2024, 4:05 PM
Wall Street looked to be slogging to the finish of a largely triumphant year.