PREVIEW: MAGNIFICENT 7/ELECTION: Colleague Liz Peek comments on the Wall Street measure of a Harris Administration continuing the rhetoric and FTC effort to break up Big Tech. More tonight.
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 29 October 2024
⏱️ 2 minutes
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| 0:00.0 | This is John Batchelor, a conversation with colleague Elizabeth Peak of the Hill and Fox News |
| 0:07.3 | about the Trump trade and the corresponding Harris trade. |
| 0:11.7 | What does Harris administration mean for the markets, especially for the |
| 0:15.6 | MAG-7, big digital companies that have blossomed in 2024 to outrun everything, the S&P 493 and the Magnificent 7. |
| 0:25.0 | Breakup is the term used by the FTC these last years. |
| 0:30.0 | Break up Google, break up Apple, break up, Google, Apple, |
| 0:32.8 | Meta, break up. |
| 0:35.4 | And so the Trump trade is one thing. |
| 0:38.6 | The Harris trade is another, another direction. |
| 0:41.5 | Here's Liz Peek to explain. |
| 0:43.0 | Well, it's very simple. Would she keep Lena Khan in her post as the head of the FTC? |
| 0:49.0 | Lena Khan definitely wants to break up Google, wants to break up Apple, wants to break up Amazon. |
| 0:54.8 | That was her opening push. |
| 0:58.3 | So the answer is yes. |
| 0:59.9 | I don't think that investors ever took seriously enough, frankly, the risk to these enormous |
| 1:07.8 | tech stocks of the various lawsuits and challenges that the Department of Justice came after them with. |
| 1:15.7 | I don't think anyone really thought that Google was going to have to sever a major part of |
| 1:20.9 | its enterprise, but it's a real threat and they're not backing off, at least they haven't yet. |
| 1:27.1 | So a Trump victory, I think, you know, you may have seen already in the very strong results, the stock moves in the MAG-7 already |
| 1:38.0 | some indication of people expecting Trump to win, expecting that a lot of those lawsuits are going |
| 1:42.6 | to go away, my guess is they will. |
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