Make These 3 ‘Harris Trades’ To Boost Your Retirement Funds
Written by
Chris Adam
Edited by
T. Woods
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If you’re an investor, there’s a good chance you’ve been watching the 2024 presidential candidates closely to see where they stand on key issues, as they could likely impact your investments and finances.
While investors and analysts have pretty good ideas on what a Trump win in November could mean for the markets, investments and personal finances, the same may not yet be said for Kamala Harris.
However, if you’re looking at potential moves to boost your retirement funds, here are three so-called “Harris Trades” to consider.
Global Trade
Among other things, a Harris win in November could favor global trade and multinational companies when it comes to investing. According to InvestmentNews, that’s because she’s likely to favor a re-engagement with international allies.
Renewable Energy
“If investors were to tilt to a ‘Harris Trade’ it would most likely support renewable energy initiatives and stricter environmental regulations,” Michael Leverty, founder and CEO of Leverty Financial Group, told InvestmentNews.
Large Cap Tech
While many analysts are suggesting investors wait until after the election to make any big moves based on who they think will win the White House, speculation continues that favorable investment trade moves under Biden could be similar under Harris.
Tim Holland, from Orion OCIO, told InvestmentNews, “…one could plausibly assume that the ‘Harris Trade’ could echo the ‘Biden Trade,’ which at a high level means supporting large cap technology companies, US multinationals and green energy companies, as well as a ‘tougher backdrop for old line industrial enterprises and US energy concerns.'”
However, there may be one key area where Harris differs from Biden — trade policy. According to CBS News, Harris has been against the United-States-Mexico-Canada Agreement and the Trans-Pacific Partnership, a 2016 trade deal. “That could suggest that Harris might prioritize environmental and climate concerns over trade deals, for instance.”
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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