The winds are shifting, and it looks like the tide has turned in Donald Trump’s favor as the 2024 presidential election looms. Recent polling suggests that Trump is not only ahead nationally, but he’s also pulling ahead in key swing states, leaving Kamala Harris in a very vulnerable position.

States like Georgia, Michigan, and Wisconsin, which could decide the election, are now leaning toward Trump. With just weeks to go before voters head to the polls, Harris is finding herself on shaky ground, and it’s not just the polling numbers that are causing concern for her campaign.

In a stunning turn of events, some big-name Democrats and Hollywood celebrities—usually the most loyal supporters of the left—have begun to publicly back Trump. Figures who once championed liberal causes are now throwing their weight behind the former president, signaling a major shift in the political landscape.

As discontent grows with the Biden-Harris administration’s handling of key issues like inflation, crime, and foreign policy, these endorsements are further complicating Harris’ uphill battle. But the surprises don’t stop there. Another major group is making their 2024 prediction. The question is, who are they backing?

From Daily Caller:
Hedge fund managers are preparing for a potential Trump win in November, loading up their portfolios with stocks that would benefit from a Trump victory, The Wall Street Journal (WSJ) reported Wednesday.

The outlet identified sectors like the private prison industry and cryptocurrency as ones that would stand to benefit from a Trump win, and highlighted large rises in the stock prices for corporations within those industries as proof.

Hedge Funds Betting Big on Trump

It seems Wall Street is placing its chips on Trump for 2024. Hedge fund managers, according to a recent report from The Wall Street Journal, are preparing for a potential Trump victory by loading up their portfolios with stocks that would benefit from his presidency.

Some of the key sectors being targeted include private prisons, cryptocurrency, and industries tied to domestic manufacturing and infrastructure. These investors are not shy about why they’re betting on Trump—they believe his policies will boost the economy and, more importantly, their bottom lines.

Dan Loeb, the billionaire investor behind Third Point, is among those optimistic about the potential benefits of a Trump presidency. He’s particularly excited about Trump’s proposed tariffs, which he believes will boost domestic manufacturing, raise commodity prices, and increase infrastructure spending.

Loeb outlined these predictions in a letter to his investors, explaining that Trump’s policies would help unleash a wave of productivity and corporate activity. Loeb is not alone—many on Wall Street are banking on Trump’s ability to roll back the strict regulations imposed by the Biden-Harris administration, particularly their aggressive antitrust stance.

The betting markets are also showing a surge of confidence in Trump. Polymarket, a popular betting platform for political outcomes, has seen Trump’s odds rise steadily since the beginning of October. He started the month with a 49 percent chance of winning, neck-and-neck with Harris.

But now, as we near the end of the month, Trump’s odds have soared to 62 percent, leaving Harris trailing at 38 percent. Investors are paying close attention, as the election outcome could have significant implications for the financial markets.

A Trump Win Could Shift Global Markets

The anticipation of a Trump victory isn’t just affecting U.S. stocks—it’s also having a ripple effect on global currencies. The Chinese yuan and Mexican peso have both seen declines recently, and experts believe this could be tied to the increasing likelihood of Trump winning the election.

The U.S. dollar, on the other hand, has strengthened in parallel with Trump’s rising odds in the betting markets, signaling that global investors are preparing for a Trump-led U.S. economy.

Themos Fiotakis, Barclays’ global head of foreign-exchange and emerging-markets macro strategy, noted that betting against the yuan and peso and betting on the U.S. dollar has become far less straightforward than it was just a few weeks ago. With Trump’s odds improving, investors are scrambling to adjust their strategies, knowing that a Trump presidency could mean big changes in trade policies and tariffs, which would undoubtedly impact global markets.

Not everyone on Wall Street is fully sold on Trump’s potential to boost the economy, however. Some, like RBC BlueBay’s Mark Dowding, are betting that Trump’s tariffs could actually increase inflation, creating economic instability.

But for many investors, the prospect of deregulation, lower taxes, and a renewed focus on American manufacturing is too enticing to pass up.

Key Takeaways

• Trump is leading in key swing states, while Kamala Harris is struggling to maintain support in crucial battlegrounds.
• Wall Street is betting on a Trump win, with hedge fund managers investing in industries expecting his policies to boost domestic growth.
• Global markets are already feeling the impact, with the U.S. dollar strengthening as Trump’s chances rise.

Source: Daily Caller