Presidential elections have such an impact on the market.
↑Voting is taking place Trump? Harris?
Trump's position
① Energy policy: It has been promoting the expansion of petroleum and natural gas drilling, and calling for a reduction in gasoline prices. However, the stock prices of oil majors are slumping due to the fall in crude oil prices.
② Revival of manufacturing: It has been advocating the revival of the US manufacturing industry. The stock prices temporarily rose against the background of strengthened border security and increased demand for construction machinery, but are currently slumping.
③Corporate tax cuts and tariff policies: Advocating for permanent reduction in corporate taxes and income taxes to promote economic growth, while emphasizing protectionist policies such as high tariffs on imports.
④Pressure on the Federal Reserve (FRB): Demonstrating a proactive stance in pressuring the FRB for aggressive interest rate cuts and advocating for strengthening the president's authority to correct the strong dollar policy.
⑤Contradictory policies: Pointing out the contradictions in the combination of growth-oriented and protectionist policies, economist Paul Krugman warns of the resurgence of inflation due to the political use of tariffs and the Federal Reserve.
⑥Impact on the market: The Trump administration's impact on the market includes both expectations of growth and anxiety due to protectionist policies.
⑦Trend of populism: Populist tendencies are evident in the policies, with opposition to the acquisition plan of the U.S. steel giant, United States Steel, by Japan's Nippon Steel being one example.
① Energy policy: It has been promoting the expansion of petroleum and natural gas drilling, and calling for a reduction in gasoline prices. However, the stock prices of oil majors are slumping due to the fall in crude oil prices.
② Revival of manufacturing: It has been advocating the revival of the US manufacturing industry. The stock prices temporarily rose against the background of strengthened border security and increased demand for construction machinery, but are currently slumping.
③Corporate tax cuts and tariff policies: Advocating for permanent reduction in corporate taxes and income taxes to promote economic growth, while emphasizing protectionist policies such as high tariffs on imports.
④Pressure on the Federal Reserve (FRB): Demonstrating a proactive stance in pressuring the FRB for aggressive interest rate cuts and advocating for strengthening the president's authority to correct the strong dollar policy.
⑤Contradictory policies: Pointing out the contradictions in the combination of growth-oriented and protectionist policies, economist Paul Krugman warns of the resurgence of inflation due to the political use of tariffs and the Federal Reserve.
⑥Impact on the market: The Trump administration's impact on the market includes both expectations of growth and anxiety due to protectionist policies.
⑦Trend of populism: Populist tendencies are evident in the policies, with opposition to the acquisition plan of the U.S. steel giant, United States Steel, by Japan's Nippon Steel being one example.
Harris's stance
①Housing policy: Introducing measures to encourage the construction of affordable properties to curb soaring housing prices, positively impacting the stock prices of major players in residential construction.
2. Expectation of interest rate cut: The expectation of interest rate cut by the FRB is also a tailwind for the policy, and the stock prices of major residential construction companies have risen and continue to maintain their strong performance.
3. Renewable energy: We are promoting measures to promote the spread of renewable energy, and it is expected that the photovoltaic power generation sector will also benefit.
4. Tax reform: We are maintaining the promise of corporate tax increases and aiming to increase the tax rate on capital gains and tax the assets of the super-rich.
5. Emphasis on distribution rather than growth: While emphasizing support for the middle class and promoting tax increase policies, there is an inclination towards a left-leaning policy that prioritizes distribution over growth.
6. Concerns about the market: Among investors, it is pointed out that if Harris wins by a large margin, concerns about tax increases may increase and have a negative impact on stock prices.
7. Populist tendencies: There is a tendency towards populism, and there is an inward-looking attitude, opposing the acquisition plans of US Steel by Nippon Steel.
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