Why split power in Washington is better for markets

The debate Tuesday between former President Donald Trump and Vice President Kamala Harris was fiery, with both nominees hoping they won over voters with their arguments on everything from the economy to immigration. While Wall Street veteran strategist and former Wells Fargo Chief Investment Strategist Jim Paulsen, however, is more focused on the micro things, like what policies will affect individual sectors. Paulsen joined Yahoo Finance anchor Seana Smith on Opening Bid to break down what's happening in the markets, recession predictions, and expected Federal Reserve rate cuts. As far as politics go, Paulsen shared his hot take. He thinks investors should care more about split power instead of who sits in the White House. “It’s more harmful for one party to have all the power,” he explained, and would prefer a combination of parties across the three branches of government to benefit the market. All that and more on Opening Bid.

Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens.

Find this episode's transcripts and more episodes of Opening Bid at https://finance.yahoo.com/videos/series/opening-bid/.

Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.

00:00-Jim Paulsen joins Opening Bid

02:30-Soft-landing and recessions look the same

08:00-The fiscal juice

14:40-Post-debate recap

18:40-Feeling like a whole new bull market

Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Rachael Lewis-Krisky.

Jim Paulsen is a retired Wall Street Economist after 40 years, and Former Wells Fargo Chief Investment Strategist. We're also big fans of his substack publication “Paulsen Perspectives”

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