Kamala & the Markets

How is the financial world reacting to a possible "President Kamala Harris"?  NBC News Radio's financial guru Erin Real joins Tony with a look at how she's being received. 

Episode Transcript

(00:00):
Good morning. I'm Tony Cruz withAaron Real NBC News Radio. So today
the subject is Kamala Harris, thevice president, now the candidacy for her
becoming president. What does it meanfor financial markets? And does are we
as the question if she wins theelection or just right now what she's doing
to the markets? Good morning,Aaron. It's both. So right now,

(00:20):
the markets like it. They're allup. They closed hire yesterday,
futures point to a higher open andthe Nasdaq, the tech heavy NASDAK regained
a lot of lost ground that itsaw on Friday, one percent in fact,
so they seem to like this.We also know that markets hate volatility.
They like stability, and whether theylike not having Biden on the ticket

(00:41):
or perhaps not having having someone whocan put up a better fight against Trump
or Kamala as she is, it'sunclear, but they like the current situation.
And we are learning more about hereconomic views. She's pretty much lockstep
with Biden on everything, whether thatbe taxes or healthcare or income inequality,
housing, very very similar. However, she differs on trade policy and actually

(01:04):
she voted against the US Mexico Canadaagreement when she was in the Senate in
twenty twenty that was signed by formerPresident Trump. It replaced NAFTA, very
popular here in North America. Shewas also against the Trans Pacific Partnership Deal
that was twenty sixteen and largely Obama'sposition, and the reason Obama's doing crafting
and the reason for opposing it isclimate concerns. So that's an interesting one.

(01:29):
Well, that could have led tomaybe why we saw maybe oil drops
as investors looked past the president.Yeah, the unwinding the Trump trade oil
a large part of that. Andthen tech. She's a California gal.
She has family in the tech world, like this is why we're seeing I
think the NASDAC bounce back like wedid, and a lot more of those

(01:49):
trades unwinding and green energy going up. But the point being the movement is
in a way that looks like morestability. So that's going to be interesting
to see what does she feel like. See there's so many unknowns here,
and this is where the Democrats kindof have a situational issue. Is just
the timing of all this. Wedon't know a lot of her policy,

(02:12):
but when it comes to this,we know that President Trump is indicated that
in all trade, possibly might putten percent tariffs on there. Joe Biden
is putting tariffs on a lot ofour imports. A lot of people,
you know, want to say Americaonly and all that kind of stuff.
That's great, but then you knowit's going to cost a lot more for
these goods and services. So dowe know where Harris is on this?

(02:35):
That's a great one. So lessisolation is definitely. But you know,
it's a good question because the factthat she doesn't like these trade agreements yet
isn't completely you know, only byAmerican bridge. She's with Biden with the
tariffs on Chinese goods and potentially extendingthe tax breaks that are supposed to sunset
in twenty twenty five. But thereason trade agreements are fascinating to me,

(02:57):
at least from reading and studying thisfor so many years, is that oftentimes
in the modern world, trade agreementssit in for cease fire deals. Having
a trade agreement is not a badthing with other nations when when trade passes,
borders bullets do not. Now,I know that sounds like very inflammatory,
but the reality I agree with that. Yeah, And while people argue

(03:19):
that, you know, in atrue capitalist society, Why would you need
a trade agreement? Okay, yeah, valid argument. Let's be clear,
we don't live in a pure,true capitalist society. We live in a
version of it, and these tradeagreements are a part of that. So,
you know, I understand that itmight not hit all of your climate
needs, but it's a matter ofwaying what might be better for the global
community. And I'm not saying thatclimate isn't important. It is, but

(03:42):
it's it's interesting to see that shedidn't vote for them based on climate positions.
Indeed, Hey, great interview,Thanks so much for being with us.
Aaron Aaron Reale, NBC News RadioHere on Kentucky Ata's Wanting News,
Come It Up Sports with Scott Binstew. Well, Well,