Wall Street is already making big bets on what take two for a White House led by Donald Trump will mean for the economy and markets.
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Still, in a sign of tech’s more conciliatory attitude, Trump’s election was greeted by congratulatory posts from most of the industry’s luminaries, including Apple CEO Tim Cook, Amazon CEO Andy Jassy and Google CEO Sundar Pichai.Trump has proposed extending 2017 tax cuts for individuals and restoring tax breaks for businesses that were being reduced. He also wants to further cut the corporate tax rate. Those would be tailwinds for shoppers and businesses, analysts said.
The National Retail Federation is forecasting higher prices for U.S. shoppers if Trump’s new tariffs are implemented. For example, an $80 pair of men’s jeans would cost $90 to $96.Trump has said he wants to “drill, drill, drill” starting on Day 1 of his presidency, so it’s expected that traditional fossil fuel-focused companies will get a boost and renewable energy outfits could be disadvantaged.
Health insurers that sell coverage on the Affordable Care Act’s insurance marketplaces or manage state-and-federally funded Medicaid coverage could face challenges if Republicans attempt to dismantle parts of the law, said Julie Utterback of Morningstar.
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