With U.S. presidential elections nearing, we wanted to take a look at some of the top sectors that could benefit from another Trump victory, or a Biden win.
Today, let’s start out with Joe Biden.
“If the election were held today, we believe Vice President Joe Biden would win as part of a Democratic sweep,” Sara Bianchi, head of U.S. public policy and political strategy research at Evercore ISI, said, as quoted by Barron’s.
If that’s the case by November 2020, there’s a possibility of higher highs in the market.
Green Energy Stocks
Green energy stocks, like First Solar (FSLR) and Tesla (TSLA) could benefit, as Biden has made climate change a major theme.
In fact, on his site, it’s noted that, “Biden believes the Green New Deal is a crucial framework for meeting the climate challenges we face. It powerfully captures two basic truths, which are at the core of his plan: (1) the United States urgently needs to embrace greater ambition on an epic scale to meet the scope of this challenge, and (2) our environment and our economy are completely and totally connected.”
The Democrats recently unveiled a $1.5 trillion infrastructure plan.
“The infrastructure bill, known as the Moving Forward Act, includes $25 billion for drinking water, $100 billion for broadband, $70 billion for clean energy projects, $100 billion for low income schools, $30 billion to upgrade hospitals, $100 billion in funding for public housing and $25 billion for the postal service,” according to The Hill.
Biden has also noted that infrastructure investing is vital to the economy.
If Biden were to win the U.S. election, we could see further relaxed cannabis laws. In fact, he has already said he would “decriminalize the use of cannabis and automatically expunge all prior cannabis use convictions,” as quoted by the Boston Globe.