'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates
Published . Updated .
Key takeaways
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Market strategist James E. Thorne believes President Donald Trump’s loss of both congressional chambers could mark a turning point for financial markets, arguing that Washington’s political incentives now favor lower borrowing costs, cheaper energy and economic stability rather
Directly affected
- No company is named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond ETF-2.8% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.
- IEF iShares 7-10 Year Treasury Bond ETF-1.3% 30d
iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.
- USO United States Oil Fund+6.3% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- TIP iShares TIPS Bond ETF-0.4% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- BAC Bank of America-11.4% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- JPM JPMorgan Chase+0.1% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- DHI D.R. Horton+3.4% 30d
D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- SCHW The Charles Schwab
The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TLT | -0.35% | -0.05% | base | after close | after close | after close | after close |
| IEFNo price data for this ticker | — | — | — | — | — | — | — |
| USO | +15.71% | +7.84% | base | after close | after close | after close | after close |
| TIP | +0.35% | +0.29% | base | after close | after close | after close | after close |
| BAC | -0.95% | -4.00% | base | after close | after close | after close | after close |
| JPM | -2.45% | -3.27% | base | after close | after close | after close | after close |
| DHINo price data for this ticker | — | — | — | — | — | — | — |
| SCHWNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates TradingView
Source: TradingView
United States Oil Fund (USO) compared with energy stocks (XLE) since 5 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | three days earlier | -4.00% | final price |
| Bank Of America (BAC) | five days earlier | -0.95% | final price |
| Jpmorgan Chase (JPM) | three days earlier | -3.27% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -2.45% | final price |
| Ishares Tr (TIP) | three days earlier | +0.29% | final price |
| Ishares Tr (TIP) | five days earlier | +0.35% | final price |
| Ishares Tr (TLT) | three days earlier | -0.05% | final price |
| Ishares Tr (TLT) | five days earlier | -0.35% | final price |
| United States Oil Fund (USO) | three days earlier | +7.84% | final price |
| United States Oil Fund (USO) | five days earlier | +15.71% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. John Boozman bought IEF (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 57 days before publication. Filed 21 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 57 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 73 days before publication. Filed 16 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 70 days before publication. Filed 4 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought Horton D R (DHI), worth $15,001 - $50,000 on 17 Aug 2026. That is 80 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 22 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 66 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 22 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 43 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 64 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around United States Oil Fund (USO)
Companies tied to this story
- USO United States Oil Fund
For “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
- XLE Select Sector Spdr Tr
Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- TLT Ishares Tr
For “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story
- TIP Ishares Tr
For “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” Ishares Tr (TIP) is linked, with no stored direction, medium confidence. Reason on file: iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story
- BAC Bank Of America
For “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
- JPM Jpmorgan Chase
For “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- CVX Chevron
In “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates,” Chevron (CVX) is linked, with no stored direction, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
United States Oil Fund (USO) and the energy link
The 5 Nov 2026 story “'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates” names United States Oil Fund (USO) because of Energy.
What ties United States Oil Fund (USO) to the headline is this: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
Price levels for United States Oil Fund (USO)
TLT traded between 76.44 and 81.94 across 20 sessions. The latest close on file is 79.46. USO traded between 142.51 and 171.80 across 20 sessions. The latest close on file is 158.17. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
The energy score for United States Oil Fund (USO)
46 out of 100
“'America Is Not Turning Back:' Trump's Biggest Political Setback Could Be Wall Street's Gain — Strategist Sees a Major Shift Coming for Oil, Inflation and Interest Rates” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.