What I Am Reading

Tuesday, November 12, 2024

Latest Morning Briefing

A New Day In America

We believe Trump 2.0 represents a major regime change that’s bullish for the economy and stocks. We now expect a sooner end to current geopolitical crises and possibly some improvement in the fiscal situation if business-friendly policies boost GDP growth enough to keep pace with mounting federal debt. That along with the tax cuts, deregulation, and better productivity growth we see under Trump increase our confidence in our Roaring 2020s scenario as well as our forecasts for S&P 500 revenues, earnings, and profit margins. That in turn raises our sights for the S&P 500’s valuation and year-end price targets—to 6100 in 2024, 7000 in 2025, 8000 in 2026, and 10,000 by the decade’s close. … Also: Eric reports that productivity growth is still booming.

Markets

Trump's win sparks stock market rallyThe Hill

Central banks

If Trump Tries to Fire Powell, Fed Chair Is Ready for a Legal FightWall Street Journal

Commodities & currencies

US

The GOP Gains in Progressive State HousesWall Street Journal
Republicans: How Much Red Ink Can They Live With?Wall Street Journal
Trump Taps Miller, Stefanik and Zeldin to Run His AdministrationBloomberg
Trump picks Rep. Mike Waltz to serve as his national security adviserCNBC
Trump deportation policy run by 'border czar' with more power, fewer hurdlesCNBC

Mexico

Mexico to Court Private Investment in Power SectorWall Street Journal

China

China’s tobacco industry is red hot, defying global trendsCNBC

Geopolitics & trade

Will the Supreme Court stop Trump’s tariffs from tanking the economy?Vox

Industries & companies

Autos:Here's why GM is outperforming its automaker peers on Wall StreetCNBC
Health Care:23andMe to Cut Workforce 40%, Discontinues TherapeuticsWall Street Journal
Media:A New Streaming Customer Emerges: The Subscription PauserWall Street Journal
Tech:Search engine tech to counter Google's powerCNBC

AI

From AI to Hardware: Enterprise Tech Leaders Prepare for Trump 2.0Wall Street Journal

Crypto

Bitcoin is closing in on $90,000 for the first time everCNBC