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* Biden’s Debate Performance Is Bearish for Tech Stocks. Here’s Why.

BIDEN’S DEBATE PERFORMANCE IS BEARISH FOR TECH STOCKS. HERE’S WHY.

Tech stocks historically underperform under Republican presidents

By Michael A. Gayed Jun 28, 2024, 3:40 pm EDT June 28, 2024

Source: Atlas Agency / Shutterstock.com

Following last night’s presidential debate, President Joe Biden has just a 19%
chance of reelection. Betting odds show that former President Donald Trump has
pulled far ahead.

Here’s where things get interesting. It appears that no sector has been more
sensitive to which party has presidential power than technology. If, over the
next few months, the tech sector begins to underperform, investors may already
be handicapping the presidential race for a Trump win.

Elon’s New AI Device Could Be Bigger Than the iPhone. Here’s How to Play It

When it comes to broad stock market performance, since 1926, the average annual
return for the S&P 500 index is 14.78% under Democratic presidents and 9.32%
under Republican presidents. That historical difference also argues that tech
stocks could be laggards under Trump, especially given how large a role the tech
sector currently plays in the overall market.

Leading up to November, if the tech sector starts to underperform the broader
market, that might be a big sign that investors are bracing for a Trump win, and
that brings with it many questions. Would a Trump administration go after tech
companies under antitrust laws? Restrict access to data? Crack down on
immigration, making it harder for tech companies to access talent? And what
about broad economic policies? Would Trump’s economic policies lead to a more
favorable climate for traditional sectors, such as manufacturing and energy,
which could be investment and labor diversions for tech?

--------------------------------------------------------------------------------

AERIAL FOOTAGE OF JEFF BEZOS’ NEXT TRILLION DOLLAR BET

Located 30 miles from Baltimore — Jeff Bezos has been quietly investing in one
tiny company that’s ground zero of a technology revolution that could change
everything.

Bank of America said the technology would be, “Bigger than fire and bigger than
all the revolutions that humanity has seen.”

And for those who get in now, this may be the biggest opportunity you’ll see in
your lifetime.

Click here for the full story

--------------------------------------------------------------------------------

THE BOTTOM LINE

If I’m right in singling out tech stocks here, then the poor debate performance
by Biden will trigger sector rotation. In turn, that could be a bearish signal
for the tech sector. It would also mean that energy and materials stocks
outperform on hopes for more friendly regulatory and taxation policies under a
Republican White House.

The stock market will soon begin to anticipate who will lead the country for the
next four years. It likely will do that via sector allocation more so than
anything else. And if tech stocks really do weaken here, it’s the market saying
that Trump wins.

On the date of publication, Michael Gayed did not hold (either directly or
indirectly) any positions in the securities mentioned in this article. The
opinions expressed in this article are those of the writer, subject to the
InvestorPlace.com Publishing Guidelines.

The Lead-Lag Report is provided by Lead-Lag Publishing, LLC. All opinions and
views mentioned in this report constitute our judgments as of the date of
writing and are subject to change at any time. Information within this material
is not intended to be used as a primary basis for investment decisions and
should also not be construed as advice meeting the particular investment needs
of any individual investor. Trading signals produced by the Lead-Lag Report are
independent of other services provided by Lead-Lag Publishing, LLC or its
affiliates, and positioning of accounts under their management may differ.
Please remember that investing involves risk, including loss of principal, and
past performance may not be indicative of future results. Lead-Lag Publishing,
LLC, its members, officers, directors and employees expressly disclaim all
liability in respect to actions taken based on any or all of the information in
this writing.

Elon’s New AI Device Could Be Bigger Than the iPhone. Here’s How to Play It

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Article printed from InvestorPlace Media,
https://investorplace.com/2024/06/bidens-debate-performance-is-bearish-for-tech-stocks-heres-why/.

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