Are you keeping an eye on the market as the election draws near? CNBC’s Jim Cramer took a closer look at Monday’s market activity and how it reflects investors’ sentiments regarding the potential outcome of the upcoming election. The market seems to be anticipating a potential win by Vice President Kamala Harris, even though the race is still tight in the polls.
But what does a Harris presidency mean for businesses? According to Cramer, investors are trying to anticipate the implications of a Harris victory, especially after a recent poll showed her leading in Iowa, a traditionally red state. This unexpected turn of events has led investors to question if other red states could also turn blue.
Certain sectors saw a boost on Monday, with home builders like DR Horton, Lennar, and Toll Brothers gaining traction as investors speculated about Harris’ proposed tax breaks and aid for first-time home buyers. Companies heavily reliant on imports, such as Constellation Brands and E.l.f. Beauty, also rallied amid prospects of a more moderate trade stance under a Harris administration.
On the flip side, hyperscaler stocks like Amazon and Alphabet traded lower, possibly due to concerns about continued antitrust enforcement under a Biden-Harris administration.
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