Picking a presidential stock portfolio: The Nov. 3 presidential election between President Trump and Joe Biden could have dramatic effects across markets, and investors are already trying to identify potential winners and losers
FILE PHOTO: U.S. Democratic presidential candidate and former Vice President Joe Biden delivers a speech on the U.S. Supreme Court at the Queen Theater in Wilmington, Delaware, U.S., September 27, 2020. REUTERS/Mike Segar
With the Senate majority also at stake, the election could allow one party to control the presidency and Congress, making it easier to enact legislation such as the additional fiscal stimulus currently being held up in a political standoff.ALTERNATIVE ENERGY: A stronger expected “green energy” push under a Biden administration could support alternative energy stocks.
INFRASTRUCTURE: A large infrastructure spending package “may be an early priority for a Biden administration as it seeks a bipartisan win,” according to Ryan Detrick, chief market strategist at LPL Financial. JP Morgan in a July report listed Procter & Gamble, Thermo Fisher and 3M among a number of stocks that could outperform should a Biden presidency lead to a “de-escalation” in U.S.-China tariff tensions.TAX RELIEF: A Biden loss could spell additional relief for companies that benefited from the president’s corporate tax cuts.
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