TD Cowen has outlined the risks and upside in markets (^DJI, ^IXIC, ^GSPC) following former President Trump's choice in Senator JD Vance (R-Oh.) as his vice president and 2024 running mate.

The analyst behind the note, Jaret Seiberg, explains that normally, there is "limited significance to the selection of a vice presidential candidate." However, Trump's selection of Vance may be an exception as he represents the more populist wing of the GOP. If Vance were to be elected alongside Trump, TD Cowen expects a risk to financials, an upside for crypto, and uncertainty for housing.

Market Domination hosts Julie Hyman and Josh Lipton break down some of Vance's policies and how they may effect different sectors in the market.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl