Barron's Streetwise Trump’s Big Win Fueled a Market Frenzy. What Comes Next?
Nov 8, 2024
Keith Lerner, Chief Market Strategist at Truist, dives into how Trump's election victory has stirred market dynamics and influenced investment choices. He discusses the surprising merits of 'Trump trades' and highlights major market reactions, particularly related to energy stocks. The conversation shifts to Peloton and Roblox, analyzing their recent stock performance amidst challenges and upgrades. Lerner gives insights on the contrasting trajectories of large-cap versus small-cap stocks, painting a vivid picture of the current investment landscape.
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Oil Production and Prices
- US oil production is at record highs, exceeding all other countries.
- Despite the "drill, baby, drill" slogan, oil prices have fallen due to a potential surplus and weak demand.
Gasoline Prices and Energy Stocks
- Current gasoline prices around $3.23 nationally are near the two-decade average of $3.
- Don't rush into energy stocks based on political slogans; consider long-term sector performance.
Bond Market and Fiscal Policy
- Deficit spending and inflation could cause bond yields to rise.
- However, fiscal restraint from the new administration might stabilize or lower yields.