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The News
The attempted assassination of Donald Trump lifted his political fortunes — and his actual fortune.
Shares of Donald Trump’s media company surged after the weekend’s assassination attempt, lifting Trump’s 60% stake in the company by nearly $800 million. Stocks seen as winners in a second Trump administration also spiked: gun and bullet manufacturers, prison operators, cryptocurrency companies, and oil producers.
Each market has its own “Trump trade” on. Bond investors, figuring that Trump’s higher tariffs and tax cuts will hurt the economy and wreck the government’s finances, have been selling long-dated Treasury bonds. Baked into the stock market’s sustained rally is the assumption that Trump, with a Republican congress, would push through more spending, and all that money has to go somewhere.
Clean energy stocks in trouble — except for Tesla, which benefits both from Elon Musk’s embrace of Trump and by the prospect of restrictions on Chinese electric-car imports. Some analysts expect copper to rise on the historically misguided assumption that a Trump White House would spend more on infrastructure.