Bloomberg Surveillance Donald Trump's Tariffs and Cabinet Nominations
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Nov 14, 2024 David Blanchflower, an economics professor at Dartmouth, dives into the ripple effects of Trump's tariffs on the labor market, emphasizing potential challenges for workers and businesses. Wendy Schiller, a Brown University professor, analyzes the unique dynamics of cabinet nominations under Trump's leadership, highlighting the strain between partisanship and Senate independence. They discuss how these developments may reshape economic policies and political strategies amidst a turbulent landscape, all while pondering the future of governance in a changing America.
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Investing Advice
- Ignore politics or at least don't let your personal political views influence your stock portfolio.
- Focus on market fundamentals like earnings growth and price-to-earnings ratios for long-term investing.
Market Sentiment Post-Election
- The market turned bullish after Trump's win, not solely for political reasons, but due to perceived pro-business policies.
- Trump's potential tax cuts, deregulation, and deal-making abilities contribute to this optimism.
Sector Recommendations
- Overweight technology and communication services sectors, which have performed well and are expected to continue.
- Also overweight industrials and financials, but be cautious about energy.