While the Trump v. Biden election continues, markets have exploded higher.
In fact, since Nov. 3, the Dow ran from 27,138 to 28,390. The NASDAQ popped from 11,038 to 11,890. The S&P 500 exploded from 3,336 to 3,510.
While uncertainty is typically bearish, markets are pushing higher on speculation that we may not see stiffer regulations and higher taxes.
According to CNBC, “Stocks surged in a massive relief rally, as investors viewed the fact Democrats are unlikely to control the Senate as a positive. Without a majority in both houses of Congress, if Democrat Joe Biden wins the tight presidential race, he would be unable push through stiffer regulations and higher taxes.”
And, as noted by the BBC, “The thinking in the markets … is it looks like it’s divided government regardless of who takes the White House,” said Chris Low, chief economist at FHN Financial. “That means a lot less probability of big sweeping legislative change, big sweeping spending or tax programmes and therefore a lot less uncertainty.”
That’s not to say Biden will absolutely win here. It’s still up in the air.
But investors are already speculating a Biden win could lift green stocks. For one, he already said the U.S. would rejoin the Paris Accord, and two, he’s a big fan of green energy. So it would only make sense to invest in green energy if he wins.
Some of the top names to consider on his potential win include First Solar (FSLR), Enphase Energy (ENPH), SunPower (SPWR), SolarEdge (SEDG), and SunPower (SPWR).
