CNBC’s Jim Cramer on Monday told investors how a possible Kamala Harris administration might affect the market, suggesting her policies would be better for mega caps and international outfits.
“If you’re looking to invest in tech, you want a world where tech has a voice in Washington, not slashed vocal chords under Trump or on mute under Biden,” he said. “If you own many stocks of international companies and you want to vote your portfolio, Harris is more likely to help than hurt. That’s more than I can say about everyone else.”
President Joe Biden bowed out of the 2024 race over the weekend and backed his vice president for the Democratic nomination. Harris was quickly endorsed by high-profile politicians from across the country, including former House Speaker Nancy Pelosi and Gavin Newsom, the governor of California.
According to Cramer, Biden seemed to hold the belief that “big business is bad business,” but Harris may have a “more nuanced approach.” Cramer said he could see Harris having close communication with Big Tech leaders.
He also said Harris seems to be “a true believer in globalization,” and might have a more favorable attitude toward companies like Taiwan Semiconductor than former President Donald Trump and his running mate, Sen. JD Vance of Ohio. Cramer pointed out that Vance is a staunch advocate for smaller, domestic businesses, which does not bode well for companies with a lot of international operations.
“With a Trump-Vance ticket, there can be no doubt: The old, free-market Republicans have been obliterated,” he said. “In their place is an America First withdrawal from the rest of the world, where all the money and the industry is left here, tariffs go up, and the government makes it much harder for businesses to move their operations overseas.”
Read More: Harris is better than Trump or Biden for mega caps and trade