Wall Street braces for a Trump or Harris presidency. Here's what that means for your portfolio.

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Welcome back! Remember nan chickenhearted sandwich wars betwixt fast-food restaurants a fewer years ago? Chicken tenders are nan caller battleground, and casual eating chains and chickenhearted brands are getting successful connected what's viewed arsenic a large business opportunity.

In today's large story, nan first of our five-part refresher bid connected nan imaginable effect Donald Trump and Kamala Harris presidencies could person connected US consumers. First up: your investments.

What's connected deck:

• Markets: JPMorgan is adding inferior bankers in mentation for an M&A frenzy.
• Tech: Apple has a batch connected nan statement this week.
• Business: Two elephantine newspapers trying to debar nan governmental fray created an moreover bigger mess.

But first, how's my portfolio looking?

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The large story

Voting for stocks

They opportunity nan stakes person ne'er been higher for this year's election. The aforesaid could beryllium said for nan effect connected your finance portfolio.

Business Insider's Matthew Fox elaborate really Wall Street sees erstwhile President Donald Trump and Vice President Kamala Harris affecting nan finance landscape if they triumph nan White House.

The communicative is portion of a five-part refresher bid BI compiled for predetermination season's last days. The extremity is to thief readers understand nan effect some candidates could person connected US consumers. Each day, we'll person a caller communicative unpacking a different area.

The system is ever a cardinal attraction for voters, and nan spot aliases weakness of financial markets importantly influences really group position it.

One of nan biggest areas wherever Harris and Trump disagree is their projected taxation policies, which are believed to person large impacts connected stocks.

According to Bank of America, Trump's scheme to trim nan firm taxation complaint to 15% from 21% will boost net by 4%. On nan different hand, Harris is looking to raise that taxation complaint to 28%, which would lead to a 5% net hit, according to nan bank.

Trump's cosmopolitan tariffs connection is besides viewed arsenic having a large impact. His supporters opportunity it's a pro-business move that will boost firm maturation and deals. Critics opportunity it'll raise inflation, which will resistance stocks down.

Sometimes, nan effect isn't arsenic straightforward arsenic it mightiness seem.

Trump's pro-drilling stance mightiness beryllium viewed arsenic a triumph for nan power sector. But that could lead to oversupply and little prices, BNY Wealth said. And nether Trump's erstwhile statesmanlike campaign, power was nan worst-performing sector.

While Democrats mostly favour upwind and star energy, nan clean-energy assemblage has tanked nether President Joe Biden aft skyrocketing during Trump's tenure. (It has outperformed much precocious arsenic Harris made gains successful predetermination polls.)

Others judge it mightiness not matter to nan markets who wins. Artificial intelligence remains nan market's awesome force, driving nan astir volatility for stocks.

Another area of nan market, albeit overmuch little cutting-edge, is incredibly basking and positioned to support thriving: gold. The metallic deed all-time highs past week and has outperformed banal prices since October 2022.

The precious metallic has benefited precocious from a trifecta of bullish forces: nan Fed's complaint cut, rising geopolitical tensions, and nan imaginable of an inflationary Trump presidency. But it's a bully stake nary matter who wins nan election, according to Interactive Brokers main strategist Steve Sosnick.

News brief

Top headlines

• He gave up everything to conflict for Ukraine. His family is still trying to fig retired why.
• VMware customers are seeing monolithic precocious fees since Broadcom acquired nan company.
• Reddit's CEO sees an opening against Google connected search.
• Tiger Grandcubs connected AI: How investors Dan Sundheim and Mala Gaonkar are thinking astir investing successful nan space.
• Tesla is offering a Cybertruck accessory that it can't afloat install.

3 things successful markets

1. The US system avoided a crash, but it's not retired of nan woods. Economist Neil Dutta said a weakening occupation marketplace remains a consequence for nan economy. He pointed to nan increasing number of consumers viewing jobs arsenic being difficult to travel by versus those that deliberation they are plentiful, and drops successful hiring and discontinue rates.
2. JPMorgan: Young bankers wanted. The largest US slope is looking to adhd finance banking analysts and associates contempt nan 4th fourth typically being slow for slope hiring. The recruitment comes up of nan expected resurgence of M&A activity.
3. Wall Street has been tasked pinch determining OpenAI's worth. Goldman Sachs and Morgan Stanley are reportedly moving connected establishing a valuation for nan startup arsenic portion of its imaginable displacement to a for-profit company. Here's what that lengthy, analyzable process would look like.

3 things successful tech

1. X still marks nan spot. Some Twitter users mourned nan societal media level aft Elon Musk acquired it and renamed it X. In response, various challengers person attempted to rival X, but none person been capable to sound nan level disconnected its throne.
2. It's a large week for Apple. In summation to reporting net connected Thursday, Apple is expected to introduce package and hardware updates to its tech lineup this week. Its long-awaited Apple Intelligence is scheduled to motorboat pinch iOS 18.1. Plus, a trading exec teased thing caller for Macs.
3. VCs are breaking a long-standing taboo. Venture firms person agelong adhered to an unspoken rule: Don't put successful competitors. However, that norm is disappearing arsenic investors move billions into competing LLMs for illustration Anthropic and OpenAI.

3 things successful business

1. The extremity of American careerism. Rather than climb nan firm ladder, workers are now choosing to descend it. A promotion was erstwhile nan pinnacle of nan American dream, but galore professionals are turning them down — and nary longer deem nan trade-offs worthy it.
2. Elon Musk is going "founder mode" for MAGA. The Tesla CEO's all-in strength to get Donald Trump elected reflects really he runs his companies. He's spent conscionable nether $119 cardinal connected his pro-Trump PAC and shows nary signs of slowing down — though it's unclear whether it will make a difference astatine nan ballot.
3. Sometimes, saying thing is still saying something. The Washington Post and nan LA Times conscionable stepped into a bigger governmental messiness than nan 1 they tried to avoid. The billionaire-owned papers said they wouldn't endorse a governmental campaigner successful nan last days earlier nan election. Some, including those wrong nan newsrooms, interpreted nan moves arsenic pandering to Donald Trump. Michele Norris, a columnist astatine The Washington Post, is the latest staffer to resign complete nan newspaper's decision.

What's happening today

• Ford Motors and different companies study earnings.
• The MLB World Series continues pinch nan LA Dodgers astatine New York Yankees.
• Forbes publishes its "Top Creators" database of astir powerful influencers.

The Insider Today team: Dan DeFrancesco, lawman editor and anchor, successful New York. Jordan Parker Erb, editor, successful New York. Hallam Bullock, elder editor, successful London. Grace Lett, editor, successful Chicago. Amanda Yen, fellow, successful New York. Milan Sehmbi, fellow, successful London.