Trump Win Would Boost Banks But Harris Is Bullish For Tech
The polls are starting to close and results are beginning to roll in. The Associated Press has declared that former President Donald Trump won Indiana and Kentucky, while Vice President Kamala Harris has won Vermont, according to AP. It’s still way too soon to figure out who the winner might be.
Many market experts argue that investors shouldn’t make wholesale changes to their portfolios based on the election outcome. Stocks typically go higher over the long-term and tend to be impacted by corporate earnings and interest rates. But there are some individual sectors that would probably do better under a second Trump term or if Harris is in the White House.
Irene Tunkel, chief U.S. Equity Strategist of BCA Research, told Barron’s Tuesday night that regional banks and industrial firms would fare better under Trump. The reasoning? The likelihood of deregulation, lower taxes and tariffs protecting U.S. businesses. A Harris victory, on the other hand, could be better for big tech firms, especially if Harris has to deal with a divided Congress.