Tesla is not the only winner under Donald Trump
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Subscribe to enjoy similar stories. A PART OF Donald Trump’s political genius is being all things to all people—or at least to all his supporters. He has said so many contradictory things, throughout his public life and during the presidential campaign, that it is easy to latch on to the bits you like and either ignore those you don’t, or dismiss them as braggadocio.
Investors, it seems, are no different. The former president’s decisive victory on November 5th sparked a global rally in equities, as stockpickers filled the Trump-shaped hole in their vision of the future with hopes and dreams. In those reveries, lower taxes and less red tape propel the planet’s biggest economy, and with it the economy of the planet as a whole.
By the end of the week stocks were up by 2.4% globally relative to election day. Look at share prices and Mr Trump somehow seems great for both Tesla’s electric vehicles (EVs) and Detroit’s gas-guzzlers; for Wall Street and for crypto firms; for American manufacturers, whom he vows to protect, and for Mexican firms, from which they allegedly need protecting; and for oil stocks, even though his urging to “drill, baby, drill" could depress profits by denting crude prices. Even shares in Chinese firms, cannon fodder in any Trumpian trade war, gained 2% by the end of November 7th.
The world is complicated and not everything revolves around the American vote (really). On November 8th China unveiled a $1.4trn stimulus package to jolt the world’s second-biggest economy. A day earlier the government imploded in the third-biggest, Germany.
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