Wall Street betting on Kamala Harris win?
Wall Street had erratic volatility on election day eve, finishing marginally down. Americans will choose a new president this week, and the Federal Reserve will make its policy announcement. But is investor mood ahead of the historic referendum reflected in the tumultuous trade? Even though the race is still tied, Jim Cramer of CNBC believes that the session's actions show that investors believe Vice President Kamala harris might win the president.
He stated, "At least we now have a blueprint for what Wall Street thinks it'll mean, even though I'm not sure the market is correct about what a harris presidency would mean for business."
How stock market movement indicates Kamala is winning
According to Cramer, Wall Street analysts predict that Kamala harris will win after an unexpected Iowa poll indicates that she may win a deeply conservative state. The state, which has six electoral votes, was won by donald trump in his last two elections. According to Cramer, the survey showed harris ahead of trump 47% to 44%, which has caused investors to wonder whether more red states may turn blue.
According to Cramer's research, Harris' planned tax benefits and assistance for first-time homebuyers may be the catalyst for a number of industries that saw gains on Monday, including house builders DR Horton, Lennar, and Toll Brothers.
According to Cramer's research, Harris' planned tax benefits and assistance for first-time homebuyers may be the catalyst for a number of industries that saw gains on Monday, including house builders DR Horton, Lennar, and Toll Brothers.
He went on to say that businesses like cosmetics manufacturer E.l.f. beauty and booze vendor Constellation Brands could have soared over Harris' more moderate trade position as comparison to her opponent. According to Cramer, trump, on the other hand, has promised to impose drastic trade restrictions across industries.