Drew Dixon
Many issues will be in the spotlight when Vice President Kamala Harris and former President Donald Trump square off in what might be their only debate. But financial implications will be top of mind for many investors tuning in.
The deVere Group, one of the world’s largest investment firms, is advising investors to look for clues or tidbits from the debate that could impact their portfolios. That future impact could come from policy cues the candidates focus on.
“The U.S. election will have far-reaching implications on sectors such as renewable energy, electric vehicles (EVs), defense, and traditional energy,” said deVere CEO Nigel Green. “Investors must be prepared for a Harris victory, which would push clean energy, housing support, and cannabis stocks into the spotlight, or a Trump win, which would benefit sectors like oil, defense, and cryptocurrency.”
Many of those elements would directly impact Florida investors, with Amendment 3 on the ballot in the Nov. 5 election in Florida. While the Sunshine State already legalized medical marijuana in 2016, this year’s ballot initiative would legalize the drug across the board for recreational use if 60% of the electorate supports the measure.
Housing issues are a growing concern in Florida as more and more metropolitan markets are running out of affordable shelter. Oil markets also impact everyone, while defense remains a prominent factor as the state is home to several key military bases and operations.
Should Trump secure victory in the November election, it’s likely that the energy sector will see a shift.
“Trump’s commitment to rolling back regulations on oil production and exploration would likely benefit companies like Exxon and Chevron,” Green said. “On the other hand, clean energy and EV companies, which have seen a favorable policy environment under the (Joe) Biden-Harris administration, could face headwinds. Companies in these sectors may experience market volatility if Trump repeals existing tax credits for EV buyers.”
Meanwhile, if Harris is elected, that would impact international trade if she lives up to her proposed policies. Her stance on China trade relations is another critical element for investors.
“While the US-China relationship has been fraught with tensions in recent years, a Harris administration is expected to take a more measured approach, hopefully avoiding the escalatory rhetoric seen under Trump,” Green said. “This could be a positive sign for companies with large Chinese exposure, like Tesla and Apple, as well as chipmakers such as Nvidia and Qualcomm.”
Ultimately, Green advises investors to remain agile with their portfolios with a promise of economic change whoever wins the election. But clear clues on how to proceed with an investment portfolio will emerge from Tuesday’s faceoff in Philadelphia.
“There will be clear winners and losers — and these will become more evident from the outcome of this evening’s debate,” Green said, adding diversifying portfolios across industries can help mitigate risk and capture gains, no matter who wins.
11 comments
Alexa is Biased
September 10, 2024 at 12:17 pm
Definitely pay attention. Bidenomics brought us record inflation. Those prices are here to stay. Let’s all give a big thanks to Joe and Kammy. 🤮
rick whitaker
September 10, 2024 at 1:14 pm
MAGA MARK, bidenomics is a made up word made up by the maga cult to confuse people so they can continue ripping the middle and working class off. like you didn’t know that, yeah, riiiiiiiiight.
Alexa is Biased
September 10, 2024 at 1:26 pm
You are aware aren’t you that Joe and Kammy used the term “Bidenomics” right? They embraced it for a while and then it went boom. I know you are trying to sweep that one under the rug as well. 🤣
rick whitaker
September 10, 2024 at 2:09 pm
MAGA MARK, you fool, you know that i’m referring to the negative false innuendo version of the word that maga cultist use. i know you claim you think i’m a fool like you, but deep down you know the truth, how could you not know. it would take an idiot to believe trump, but not necessarily an idiot to vote for trump. trump voters are primarily lost souls without direction. christianity has fooled a lot of people, and made fools out of normally intelligent people. maybe that is the crux of your myriad negative issues.
Alexa is Biased
September 10, 2024 at 1:28 pm
Speaking of the working and middle class, how do you think these inflationary prices on all consumables have affected them? Those run up on prices have not reversed course. You gonna get amnesia in that one as well? 😜
rick whitaker
September 10, 2024 at 2:29 pm
MAGA MARK, everyone including you know that inflation is a result of big business price gouging, not the policies of dems. in reality, it’s the maga pro gouging policies that’s driving inflation in a deliberate phenomenon. low information dudes like you pretend to not know these things. as i have said to you before, listen to mainstream media and your right-wing nutcase mentality may start residing. why do you continue to spout the ridiculous lies of the maga cult when you know they are lies? i’d love to hear your lie telling me that you don’t listen to lies or repeat them. dude, you are so transparent.
JD
September 10, 2024 at 3:00 pm
“Bidenomics”
Funny how you’re quick to blame Joe and Kamala for inflation like they personally set global supply chains on fire. Newsflash: inflation hit worldwide, thanks to COVID disruptions and corporate price hikes, not some magic switch flipped by the White House. And while you’re cheering for inflation sticking around, you might want to note that it’s been easing under the same administration you’re mocking. And it is stellar compared to the inflation and still supply chain issues in other countries. As for the middle class, how about looking at how wages are finally growing after decades of stagnation? But sure, keep pretending it’s all Joe and Kammy’s fault while ignoring global realities. The more you post, the more I think you’re a paid shill.
Alexa is Biased
September 10, 2024 at 4:03 pm
Of course if the country was lead by a Republican administration you would be fine if Repubs offered the same explanation. Uh huh. 🤣
JD
September 10, 2024 at 4:35 pm
Sure. I give credit where credit is due.
And that’s because I look at the data in a big-picture context, not in a narrow space (everyone should read the book Lying with Statistics).
When I reviewed historical data, Republicans have almost never shown true economic prowess in areas like GDP, inflation, or wage growth—at least not in my lifetime, and I’m over 50. At best, they’ve ridden the coattails of Democratic policies until their reversals of those policies caused problems.
They suck at and of late I think they realized such. So now they are going after culture war stuff because it mobilizes people, but it has zero substance just like their governance.
Like I said, I was an independent, but now, I demand the BananaRepublicans fix their party or they will keep getting a no from me.
Michael K
September 10, 2024 at 2:30 pm
Even the Wall Street Journal has denounced Trumps economic plan. Everything’s a tariff to him – and despite what he says, tariffs are a hefty tax on consumers. Of course billionaire oligarchs couldn’t care less – but everyday Americans bear the brunt of his “policies.”
Howdy 🤠
September 11, 2024 at 12:51 am
Last call with this,,, they never talked about the creeper of taking away the competitive edge with products like everything is a set price because I make so much money going international with things.
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