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Rep. Mike Johnson (R-La.) has officially won the Speaker of the House race, securing 218 votes. Insigneo chief investment officer Ahmed Riesgo joins Market Domination to discuss what this win means for the future presidential administration.
Riesgo notes that Johnson's victory will alleviate some concerns regarding policy and budgets under a potential Trump presidency.
"We were fearful that perhaps Trump's razor-thin majorities in the House and Senate would perhaps give him some trouble," he states. However, he points out that this vote signals to investors that Republicans are unifying behind Trump, potentially facilitating the implementation of his "core" agenda.
From a market perspective, Riesgo recommends focusing on small-cap stocks, utilities, and US industrials in the current environment. He suggests these sectors stand to benefit from Trump's proposed policies promoting deregulation and protectionist measures.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
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This post was written by Angel Smith