The US Election Results Can Make or Break These Big Market Players
With all the uncertainties, let’s take a look at how the election outcome will affect sensitive companies that stand in the line of fire of Trump’s and Biden’s policies.
Since 2018, China and the US have been engaged in a trade war that has put a lot of strain on the US–China relationship and their respective economies. If Trump wins another term, the trade war with China is bound to continue. This would put Alibaba stocks, one of China’s tech giant companies trading in the US stock market, in a tight spot. At present, Alibaba is trading at $307 with a 41.72% gain this year so far.
Alibaba gains 41.72% this year, SimpleFX WebTrader
Meanwhile, Bank stocks like JPMorgan are also expected to benefit from Trump’s corporate tax cuts and deregulations of financial stocks.
What Biden’s Environmental Advocacy Means for US Oil Players and Tech Giants
If Biden wins the presidential seat, ExxonMobil stocks could face heavy pressure as the Texas-based oil giant will need to switch from oil production to more renewable energy sources like solar and wind.
On the other hand, renewable energy players like First Solar are seeing stock prices rise after years of slump as Joe Biden leads the polls. Investor giants like Citigroup that support renewable energy initiatives are also poised to see better stock prices in a Biden win.
In the tech scene, major players like Facebook and Apple are also supporting initiatives towards carbon footprint reduction with their release of environmental progress reports and public commitment to reducing their respective carbon emissions in the near future.
It is still too early to tell who will win the presidential elections this coming November 3, but Trump’s and Biden’s campaign platforms and policies are sure to rock the foundations of economic players one way or another.
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Originally published on: https://blog.simplefx.com/2020/10/23/the-us-election-results-can-make-or-break-these-big-market-players/