Howard Lutnick, Trump’s Commerce Nominee, Discloses Business Interests
Published On Jan 24, 2025, 2:09 PM
Howard Lutnick, nominated to be the Commerce Secretary by President Trump, disclosed extensive financial interests and relationships with over 800 companies. He has assets worth at least $800 million and a recent income exceeding $350 million. Despite plans to divest some holdings, concerns arise regarding potential conflicts of interest, especially given his oversight of trade policies and relations with businesses that could impact market dynamics.
Stock Forecasts
XLF
Negative
Lutnick's connections and financial interests may lead to increased scrutiny of companies he is linked with, potentially affecting their stock performance. If he pushes for tariffs and other trade policies, sectors like real estate and financial services could experience volatility based on policy outcomes.
SMH
Positive
Given Lutnick's extensive background in finance and trade, companies involved in infrastructure, particularly technology and semiconductor manufacturing, may benefit from his focus on promoting these sectors. This could positively impact stocks in that sector.
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