And so it begins...
President-elect Donald Trump may take as many as five executive actions on Inauguration Day, according to his spokesman Sean Spicer. Trump has previously promised to take executive actions immediately after taking office to counter some of the policies of Democratic President Barack Obama.
"He's got a few of them probably in the area of four or five that we're looking at for Friday," some of them logistical, Spicer said today at a news briefing. "Then there are some other ones that I expect him to sign with respect to a couple of issues that have been high on his priority list."
As America and the world prepares itself for the new U.S. Commander-In-Chief, here's a quick look at some key issues investors should be paying attention to from Hedgeye chief political strategist JT Taylor.
IF A TREE FALLS IN THE FOREST...
#TrumpCabinet #Democrats
With over 40 Democratic Representatives skipping the inauguration and Senate Dems doing whatever they can to derail Trump’s cabinet nominees, Democrats are trying to remain relevant. The wind is already out of their sails now that Senator John McCain is backing Secretary of State-designate Rex Tillerson, making his confirmation all but a sure thing.
Now Dems will try to gain some traction by pushing hard against EPA-designate Scott Pruitt and his history of fighting the EPA, HHS-designate Tom Price for stock trades and Treasury-designate Steve Mnuchin for his involvement in profiting off of foreclosures during the financial crisis while owner of IndyMac.
Yesterday’s grilling of Secretary of Education-designate Betsy DeVos by Democrats should give her counterparts a warning that the Dems are loaded for bear and will take every shot they can to score political points against Trump.
"WE MUST HAVE A BAD CONNECTION"
#GOP #Congress #Trump
A bit of a disconnect continues between President-elect Donald Trump and House Republicans. Elements of the tax bill being written by Hill Republicans have drawn criticism from Trump for being too complicated. The proposal which includes a border-adjustment measure that taxes imports, but exempts exports, has drawn the ire of Trump and some of his advocates.
Add health care coverage to the list as well.
Don’t read too much into this just yet, we’re hearing that the Republican leadership on both sides of the Capitol are working hand-in-glove with senior staff at the transition team.
COMPANY MAN
#USBusiness
U.S. companies are falling into line as General Motors announced it would keep or add 7,000 jobs instead of moving them to Mexico. Meanwhile, Walmart claims it will also add 10,000 jobs this year. The GM move follows criticism from the president-elect following their plan to open a plant in Mexico last August.
These follow the Ford and Carrier deals that the incoming Trump Administration has had a hand in.
Who needs to re-negotiate trade deals when a midnight tweet or two has the same result?
MAY DAY
#UK #EU
After months of speculation, British Prime Minister Theresa May called for a clean break with the European Union. It appears as if British involvement in the single market will come to an end. This will set up a contentious split with May already announcing if they are locked out of European markets, Britain will change its economic model to remain competitive.
Luckily May already has the ear of President-elect Trump - who is moving a bilateral trade agreement way up on his burgeoning to-do list.
UNDER THE RADAR
#Russia #CyberAttack
While Washington and the most of the nation are looking forward to the inauguration later this week, a bipartisan group of Senators are working to sanction Russia for its cyberattacks on the election. The bill is being spearheaded by Senators John McCain and Ben Cardin. It would include new sanctions for transactions with Russia’s intelligence agencies and targeting large investments in Russia’s energy sector.
Also...
GENERAL DAN CHRISTMAN DISCUSSES GEOPOLITICS IN THE TRUMP ERA- Join Hedgeye CEO Keith McCullough at 2:30pm ET with General Dan Christman as they discuss Geopolitics in the Trump Era.
BIG ENERGY WEEK AHEAD FOR TRUMP CABINET NOMINEES: Our Senior Energy Analyst Joe McMonigle has a new note on the confirmation hearings for EPA, Energy, and Interior and what the potential signs are for investors.
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