Money movements and another Trump presidency
Marketplace Morning Report
Marketplace
4.5 • 928 Ratings
🗓️ 6 November 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Donald Trump has won the race for the White House. What does that mean for financial markets? With Ben Kumar, head of equity strategy at Seven Investment Management, we’ll delve into stock movements, the market volatility and the potential impact of tariffs. We’ll also unpack the economic ripple effects of a Republican-controlled Senate and learn about the backgrounds of two potential economic leaders under Trump: investor John Paulson and billionaire Elon Musk.
Transcript
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| 0:00.0 | Big money is shifting on financial markets with the clarity that Donald Trump is America's next president. |
| 0:07.0 | I'm David Brancaccio. A great pool of uncertainty in financial markets has been drained now that we know who will be the next president of the United States, |
| 0:16.0 | and that a protracted fight over the results will not define the rest of the year. |
| 0:26.4 | Starting with stock market, Dow futures are up more than 1,200 points right now, 2.8%. S&P futures are up about 2%. |
| 0:28.5 | NASDAQ futures also up sharply 1.5%. |
| 0:31.7 | Watching all of this is Ben Kumar, head of equity strategy at 7 Investment Management. |
| 0:37.1 | Ben, thank you for joining us. |
| 0:38.7 | Good morning. The shorthand for this is called the Trump Trade. Take me through the logic |
| 0:43.8 | of some of this, starting with stocks. What general categories are they buying here? |
| 0:49.2 | And what's the strategy? U.S. stocks is basically the strategy. The Dow and the NASDAQ and the S&P 500. One of the other interesting ones to look at is the strategy. U.S. stocks is basically the strategy. The Dow and the NASDAQ and the S&P 500. |
| 0:56.3 | One of the other interesting ones to look at is the Russell 2000, which are smaller U.S. |
| 1:00.6 | companies. And that, when I last checked, was up 5 to 6%. You know, there is a real feeling that it |
| 1:06.5 | means domestic U.S. strength is back on the cards, which aligns at least with some of the things |
| 1:13.0 | Donald Trump has been saying, and it seems that markets are prepared, at least today, to believe it. |
| 1:18.6 | Now, some of these U.S.-based companies are, of course, multinational corporations, |
| 1:22.8 | and some will argue that the tariffs, the next president is promising, will add friction to the economy, |
| 1:28.7 | contribute to inflation, clog the arteries of world trade. That would presumably hurt profits in |
| 1:35.0 | some of these companies that people are buying this morning. Yeah, I think that's absolutely right. |
| 1:38.7 | There's a version of Tesla shares that's traded in Frankfurt in Germany that's up 15 or 16 |
| 1:44.1 | percent. But, you know, |
| 1:45.0 | if tariffs start going in and Chinese retaliation comes through, Tesla's not guaranteed to keep |
| 1:50.4 | doing better. So you're absolutely right. But I think this morning, you know, what we're seeing |
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