3 Things You Should Buy After Trump Takes Office
Written by
Lydia Kibet
Edited by
Zuri Anderson
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Americans expect potential economic shifts after President Donald Trump took office on Jan. 20.
From tax cuts to mass deportation of people living illegally in the U.S. and tariffs on imports, these changes could mean lower costs on some items and create investment opportunities for millions of Americans.
Here are three things you should buy now that Trump is in office.
Cryptocurrency
Since Trump’s victory in the presidential election, Bitcoin has surged to all-time highs and surpassed the $100,000 mark for the first time ever. Trump’s optimism about the future of cryptocurrency fueled this surge across the crypto market, with altcoins, meme coins and stable coins also hitting record highs.
During his re-election campaign, Trump positioned himself as a crypto champion and pledged to make the U.S. “the crypto capital of the planet.” In addition, he named crypto advocate Paul Atkins as the new chair of the SEC after Gary Gensler stepped down. Atkins will likely bring a lot of change to crypto regulation.
Investing in cryptocurrencies under the Trump administration may be a good idea. However, not all digital assets are worth investing in. It’s also worth noting that cryptocurrencies are highly volatile, so invest what you can afford to lose.
Energy Stocks and ETFs
The energy sector surged the day after Trump’s victory, with the Energy Select Sector SPDR Fund (XLE), which represents energy stocks in the S&P 500, seeing a 4% increase. This rally reflects the market optimism under the anticipated Trump’s oil and gas policies.
Trump vowed to cut energy costs by 50% in his first year in office to combat inflation. His campaign slogan, “Drill, Baby, Drill,” has become synonymous with his plan to allow companies to drill in more places to increase oil and gas production.
If Trump does this, it will be positive news for the energy sector. Energy stocks and exchange-traded funds (ETFs) will likely see an upward trend. That said, be on the lookout for energy stocks like Exxon Mobil Corp. (XOM) and Chevron (CVX), and ETFs such as XLE and Vanguard Energy (VDE).
A House
Trump promised to carry out the largest deportation in America’s history of people living illegally in the U.S., claiming that it would lower housing costs.
On Oct. 1, at the vice presidential debate, J.D. Vance said that housing is unaffordable because millions of people living illegally in the U.S. are competing with Americans for scarce homes. Trump argued that deporting immigrants would help the economy free up more housing and may also lead to higher wages for domestic workers.
Another of Trump’s plans to lower housing costs is allowing homes to be built on federally-protected lands, which could potentially help increase the number of homes and lower prices.
If all of these will work, which some economists doubt, then buying a house after Trump takes office can be a good idea.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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