The race has been called. Former Vice President Joe Biden will become the 46th President of the United States come Jan. 20, barring some unlikely twist of fate.
He won’t have a particularly easy job in front of him. Biden will be inheriting an economy struggling to find footing in the midst of a second wave of coronavirus infections. Adding the uncertainty of a new administration into an already wildly uncertain environment could be a recipe for some choppiness.
New administrations always bring a new set of policy priorities. And while President-Elect Biden has pledged to govern as a centrist, he’s already made it very clear that he wants to “Build Back Better” with an emphasis on renewable energy and modern infrastructure.
“A Biden administration will mean more regulatory scrutiny for financial and energy stocks and probably higher taxes across the board,” says Rodney Johnson, president of economic research firm HS Dent Publishing. “But there will be opportunities. Infrastructure spending, green energy and health care are all Democratic priorities and should do well under a Biden presidency.”
And even though we won’t know for sure until Georgia’s runoff election, it looks like the Republicans will hold on to the Senate. This means that the Biden administration will need to reach across the aisle and negotiate on any major policy proposals. That’s not necessarily a bad thing, as it means any major policy moves will likely be broadly accepted and unlikely to ruffle too many feathers.
Let’s look at the 15 best stocks to buy for a Joe Biden presidential victory. Some of these are fairly obvious winners, but some are contrarian bets you might not expect.