Analysis: Progressive or moderate? How a Biden cabinet could affect U.S. stocks

NEW YORK - Should Democratic challenger Joe Biden prevail, as polls suggest, some on Wall Street are looking ahead to his cabinet picks to gauge whether he will govern as a business-friendly moderate or promote progressive legislation that could weigh on sectors such as financials and oil but bolster clean energy.

Progressive lawmakers are pushing him to exclude any corporate executives or lobbyists from potential positions, people involved told Reuters. Biden has said he would consider Republicans for his cabinet as well, though that is unlikely for Treasury chief because it would set up a major fight with progressives who have their eye on that role in particular, according to people close to the campaign.

The COVID-related recession and the so-called “K-shaped” recovery’s divergence of fortunes between the wealthy and everyone else, have boosted a fundamental progressive argument that American capitalism grossly favors the rich and needs to be reformed. Fed Governor Lael Brainard and former Treasury deputy secretary Sarah Bloom Raskin are also seen among the most likely

“The question is whether she is seen enough in tune with the more progressive wing of Biden’s coalition,” Gallagher said. The S&P 500 financial sector is down 1 percent since the first Trump-Biden debate on Sept. 29, compared with a 2.8% decline in the S&P 500 index as a whole, according to Refinitiv data.

Why did the President just call the election a fraud Wants to stop counting votes 🗳 in States that he is leading, but continue counting in States he’s losing?

thanks

Donald Trump president 🇺🇸🇺🇸🇺🇸🦅🦅🦅

Biden lost. Pointless article

Old news

Lol! Yes look for big spending with a Republican controlled senate.

wow

No shit

Excuse me, Fuck Wall Street.

ANY DEMOCRAT WITH THE SOCIALIST MARXIST SO DEEP IN THE PARTY...IT IS NOT GOOD FOR BUSINESS AND THE WTOCK MARKET U CRAZIES AT REUTERS MUST LEARN ABOUT BUSINESS

out of date news

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