US Presidential Election 2020 Battle: ASX Stocks worth watching post the results

Summary

• At AEST 1:53 PM, Joe Biden was leading the Presidential Election with 131 electoral votes.
• Climate change management is one of the key focus areas, and it would be interesting to see how businesses like New Energy Solar perform in future.
• BNPL player Afterpay has expanded its presence in the US and its potential growth trajectory would be worth watching.

Not just the US, but the entire world is waiting with bated breath to find the final outcome of the US Presential elections, that were held on 03 November 2020. Just like the share markets across the world, the election results are bound to have an inevitable impact on the ASX stocks.

At the time of writing this article, as per the New York Times, Donald Trump is leading in Florida and has won in Arkansas. On the other hand, Democrat Joe Biden is doing well in key states like Ohio, Michigan, Texas, and Pennsylvania, which accounts for 92 electoral votes. Donald Trump is leading in Florida, North Carolina, and Georgia, which accounts for 60 electoral votes.

DO READ: US Presidential election at the fag end, is the market nervous?

A Glance at Key Vision of Joe Biden as the Next US President:

Joe Biden’s vision includes:

• Beat COVID-19
• Create millions of good-paying vacancies and to build back an economy that works for all
• Provide affordable healthcare to each American
• Restore American leadership abroad
• Ascertain the Future is “Made in America”
• Support the Veterans
• Secure value as a Nation of Immigrants
• Support Educators and Students
• Tackle the Climate Emergency
• Strengthen Tribal Nations
• Improve racial economic equity
• Strengthen the caregiving and education workforce
• Tackle climate change
• Reopening of schools
• Empower and protect women
• Scale-up employment insurance
• Fix the bankruptcy system
• Lift every voice and has plans for Black America
• Strengthen ties with Central America

Donald Trump’s key vision as the next US President:

Donald Trump’s vision includes:

• Create millions of jobs in the next ten months
• Eradicate COVID-19
• End the dependence on China
• Focus on the healthcare sector. He would cut prescription drug prices, lower healthcare insurance premium, an end surprise bill, cover all pre-existing conditions, protect social security and Medicare, safeguard the veterans and provide superior healthcare and services
• Provide education of choice to every child in America
• Allow Congressional term limits, end bureaucratic Government bullying of US Citizens and small businesses, reveal Washington’s money trail, and give powers back to people and states and finally drain Globalist Swamp by taking on International Organizations that affected the citizens
• Defend the US police
• End any illegal immigration and safeguard American workers
• Focus on innovation. These include space force, the building of the biggest infrastructure system, win the race to 5G and establish National High-Speed Wireless Internet Network, partner with other nations to clean up oceans
• Introduce America first foreign policy
• Defend American Values

Current status of US Presential Election at AEST 1:53 PM:

Joe Biden is leading the Election with a total of 131 electoral votes, and Donald Trump has won 108 electoral votes.

A Few Australian Stocks to watch for in Joe Biden wins the Election:

As highlighted in Joe Biden’s vision, one of his agenda points is to tackle climate change. On that front, it would be interesting to see how some of the ASX-listed renewable energy companies grow in the future. The fast-growing financial technology industry could also be under the spotlight following the elections.

Let us look at three ASX-stocks that could be impacted by the election results.

1. New Energy Solar (ASX:NEW): New Energy Solar acquires and manages a diversified portfolio of solar and renewable energy assets worldwide.
2. Energy World Corporation Ltd (ASX:EWC): Energy World Corporation is involved in the production & sale of power, oil & natural gas. It also produces and sells LNG.
3. Another exciting area is the fast-growing fintech space. Companies like Afterpay Limited (ASX:APT) has recently expanded in the US and the UK region. It would be interesting to see how the stock is influenced post the election.

Do READ: Businesses Take Additional Security Measures Anticipating Civil Unrest Post Election In The US