FT News Briefing
Behind the Money: Wall Street, tech and energy during Trump’s second term
Nov 17, 2024
Brooke Masters, U.S. financial editor for the Financial Times, and Stephen Morris, San Francisco Bureau Chief for the Financial Times, delve into potential shifts in Wall Street, tech, and energy under a second Trump administration. They discuss the mixed regulatory landscape and the influence of key figures like Elon Musk on financial policies. The duo predicts winners and losers in corporate America, highlighting the contrasting fortunes of fossil fuels versus renewables. Plus, they explore how tech giants might navigate future regulatory challenges.
21:24
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Quick takeaways
- The banking sector is likely to experience a surge in profitability and deal-making due to anticipated reductions in regulatory oversight under Trump.
- Trump's administration may favor traditional energy sources, negatively impacting the renewable energy sector while boosting oil and gas industries.
Deep dives
Impact on Wall Street: A Return to Favor
The banking and finance sector anticipates significant changes following the election of Donald Trump, contrasting sharply with the constraining measures of the previous administration. Under Trump, expectations are high for a reduction in regulatory oversight, especially concerning the Basel III endgame capital requirements. Bank stocks surged as industry optimism returned, indicating a belief in the revival of deal-making and increased profitability. The outlook suggests a lifting of restrictions could rejuvenate market activities, benefiting not only large banks but also private equity firms eager to capitalize on fewer regulatory hurdles.
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