2024 Election Deja Vu: Is Wall Street Betting on Trump to Break the System?

Written by Derek Wolfe

Wall Street has been quietly but unmistakably building momentum behind a Trump victory in next week's high-stakes election. Former President Trump’s shares in Trump Media & Technology Group (DJT) have clawed their way back from a September slump, and it’s not just the company riding this wave. There’s a more profound, subterranean push—a force rallying around the idea of Trump not only as a candidate but as the answer to a broken system.

On Tuesday, CFRA Research’s chief investment strategist Sam Stovall joined Charles Payne on FOX Business, drawing an eerie parallel to another moment in American history—1968, a year when everything went off the rails. Like today, that was a year of discontent, a year when the public’s frustration boiled over, forcing the old guard out and ushering in a so-called “savior.” Back then, it was Richard Nixon who stepped in as the outsider, leveraging the chaos to prevail over the entrenched, crisis-ridden establishment. Fast-forward to now, and it feels like déjà vu, with Trump cast as the Nixon-like figure and Biden or his surrogate standing in as the weakened incumbent.

Stovall underscored the unusual flavor of the 2024 election cycle, pointing to the stock market’s over-5% rise since July—a telling figure. Historically, when markets have surged in that period before an election, incumbents have held onto power 82% of the time. But the exceptions are what matter here, folks, and one of those outliers was 1968, when the public’s frustration with government overreach, inflation, and unpopular wars flipped the narrative.

In that era, America was bleeding, lost in a quagmire of Vietnam, and the establishment was losing its grip. Today, we’re mired in similar crises: rampant inflation, spiraling immigration, and what’s starting to look like an endless parade of Federal Reserve manipulations—one rate hike after another. Stovall didn’t miss a beat, noting that the Fed just pulled its 1968 trick again, cutting rates ahead of the election. But is this for the people, or is it a last-ditch effort to keep Wall Street’s fingers locked around the levers of power?

Adding fuel to the fire, whispers from the financial underworld hint that influential players on Wall Street have already thrown their weight behind Trump. And they’re not just playing coy about it—there’s real belief that a Trump win could “accelerate” the rally currently energizing the market. In fact, Bloomberg’s MLIV pulse survey shows a whopping 38% of those surveyed see a Trump victory driving this rally even higher. By comparison, only 13% felt that way about a Harris win. This tells you where the money’s flowing and, more importantly, who it’s banking on to pull America out of its downward spiral—or at least shake up the status quo.

Yet here’s the thing no one’s talking about: why Wall Street’s suddenly so hot on Trump. Could it be because they see him as a puppet for deregulation, someone who will let them operate unfettered while average Americans struggle to stay afloat? It’s a page straight out of the 1968 playbook, with the usual power brokers trying to wrangle the system in their favor, counting on chaos to bring them the right outcome. Only this time, the stakes might be even higher. Back in '68, the establishment was willing to play with fire to get what it wanted. This year, they might just torch the whole system.

The parallels Stovall noted are unsettling, almost prophetic. They’re not mere coincidences—they’re warning signs. Inflation’s out of control, our borders are a sieve, and the Fed’s playing puppet master with interest rates. It all adds up to a reality we can’t ignore: the system is geared against the average person. And just like back then, the people are restless. But will we get real change, or is this just another set-up to keep Wall Street fat and the public shackled?

No one’s going to hand you the truth, folks. You need to dig for it, question everything, and prepare. Because if there’s one thing this election cycle proves, it’s that the power players don’t care who gets trampled underfoot. They’ll make their moves and hope you’re too distracted to notice.

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