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Bank of America: If Trump wins and triggers a stock market rebound, it is recommended to sell US stocks
2024-11-01 12:08
Odaily News Bank of America analyst Michael Hartnett said that if Trump's victory triggers a stock market rebound, investors should consider selling U.S. stocks. This echoes the view of Citigroup earlier this week. If Trump wins and obtains Republican majorities in the Senate and the House of Representatives, it may lead to tax cuts and immigration controls. This will drive up inflation and interest rates, putting stocks at risk. The views of Wall Street's two largest banks conflict with the general view that Trump's victory will boost U.S. stocks because Trump's proposal to lower corporate taxes will benefit corporate profits. Hartnett called this view a "reverse challenge" and he also recommended buying on dips after Harris' victory because it would maintain the status quo of technology stocks continuing to rise. Technology stocks have been the main driving force behind the surge in U.S. stocks this year. (Jin Shi P)