While Vice President Kamala Harris is gaining popularity in the polls, a surprising trend is emerging among U.S. business leaders. According to Tina Fordham, founder of strategic advisory firm Fordham Global Foresight, many institutional investors, board members, and C-suite executives still favor a Donald Trump victory in the 2024 presidential race.
Fordham, who advises this group of influential figures, revealed their preference for Trump stems from a belief that he is more business-friendly. Despite Harris leading Trump in recent polls, many executives are dismissing these results, highlighting a prevailing sentiment that a Trump presidency is more likely and economically favorable.
However, Fordham also points out a distinction between the preferences of big tech and big banks versus traditional corporations. The latter group, she notes, is leaning towards a Harris presidency, recognizing the benefits of the U.S. free trade and democratic system that has fueled global corporate growth for decades.
This sentiment comes as Harris is preparing to unveil her economic agenda in a speech in North Carolina. Simultaneously, Trump has been actively courting Wall Street support, promoting his own economic policies in key swing states.
This preference for Trump is particularly interesting considering he has been criticized for his inconsistent stance on the stock market. While he took credit for its rally, he blamed Harris when it started to decline. Despite this, a recent poll revealed that 42% of Americans trust Harris more to handle the economy, compared to 41% for Trump.
Analysts suggest a Trump presidency could be bullish for Tesla Inc. but potentially negative for the electric vehicle market overall. Nevertheless, Harris continues to hold a strong lead in both 2024 election polls and prediction markets, reflecting widespread support from voters of all ages.
As the 2024 election approaches, it’s clear that the race is far from settled. The business community’s distinct preference for Trump, even amidst Harris’ growing popularity, adds another layer of complexity to the unfolding political landscape.
