Several stocks could get a boost if former President Donald Trump wins the presidency and the GOP secures control of Congress, the odds of which have increased since the weekend, according to Wolfe Research. Investors are expecting that Saturday's assassination attempt on Trump at his Pennsylvania election rally have increased the odds of him securing the election and will also spark trades this week that are betting on that outcome.
He added that if election-betting odds continue to show Trump leading the presidential race and the Federal Reserve cutting interest rates in September, he would look to buy financials and energy stocks, while selling utilities and staples, among other defensive pockets of the market.
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