Investors are putting their money on the "Trump trade." Here's what that means.
CBSN
As former President Donald Trump stretches his lead at the polls over President Joe Biden, investors are already laying bets on what Trump's return to power could mean for the U.S. economy, stock prices, and individual industries and companies. Wall Street has dubbed such market moves the "Trump trade."
A Trump presidency would bring "important macro and market implications, with the key impacts likely revolving around trade policy and tariffs," Goldman Sachs analysts said in a report. For example, Trump's plan to impose universal tariffs on U.S. imports would likely benefit companies that mostly do business here at home, as opposed to global players, according to the investment bank.
The so-called Trump trade "has to do with those companies viewed as being the primary beneficiaries of a Trump presidency and the agenda he has laid out so far," JJ Kinahan, CEO of IG North America, told CBS MoneyWatch. "This is speculation — as we both know, what's said and what ends up happening can be two different things."
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