Just days ahead of the Nov. 5 presidential election in the U.S., investors are trying to gauge how stock markets will react as polls and betting platforms point to a tight race between Vice President Kamala Harris and former President Donald Trump.
On the other hand, Trump has promised to double down on trade tariffs, especially against China, and “rescind all unspent funds” under a signature Biden-Harris climate law that includes hundreds of billions of dollars in subsidies for electric vehicles, solar and other clean energy technologies. “Trump’s support for fossil fuel industries could benefit oil and gas stocks, as he would likely pursue policies that favor domestic energy production,” said Daniela Hathorn, senior market analyst atTrump could leverage authority to rapidly increase production levels, which would benefit exploration companies such as Chevron, Exxon Mobil, and ConocoPhillips .
According to Stock Analysis, Microsoft, Apple , and Alphabet were the three firms shouldering the highest income taxes over the past 12 months, collectively amounting to $67.73 billion.