Markets abhor uncertainty. That bit of Wall Street wisdom helps explain their ebb and flow since Donald Trump’s victory on Election Day, and even earlier.
Some companies might well benefit from these specific policies. Stocks of private prison firms like Geo and CoreCivic, which can build and operate temporary detention centres, have risen with the President-elect’s fortunes, and shares of smaller domestic companies with little international revenue jumped after the election.
If he goes ahead with his tariff promises, countries hit by the levies would have incentives to weaken their currencies further, to make their products more competitive. A stronger dollar helps Americans travelling abroad, but it hurts consumers at home and big corporations with international operations.
Why? Partly because Robert F. Kennedy Jr, whom Trump has nominated as secretary of the Department of Health and Human Services, wants to remove fluoride from drinking water, a move that may be bad for public health but is great for the business side of dentistry.
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