Despite the fact that the 2020 presidential election is more than a year away, investors are looking at the potential impact of a progressive political agenda on the stock market.
J.P. Morgan, in a new report, compiled a list of firms that would be most affected by progressive policy initiatives, in areas like anti-trust, financial regulation, climate change, health-care reform and minimum wage.
The company expects these select stocks to under-perform relative to the market if a progressive Democratic candidate is elected.
2020 candidates Joe Biden, the former vice president, Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., are leading in national polls. There are 19 Democratic presidential candidates still in the race. Betting markets provide Trump with a slight advantage, though the top Democratic contenders are ahead of him in most national polling.
Here are some of the stocks J.P. Morgan expects would under-perform:
Energy:
Chevron
Exxon Mobil
Industrial:
Lockheed Martin
Northrop Grumman
Consumer discretion:
Gap
Papa John’s
Consumer staples:
Walgreens Boots Alliance Inc.
Healthcare:
CVS Health
Cigna
Financials:
Bank of America
Wells Fargo
Information Technology:
Booz Allen Hamilton Holding
Communication Services:
Alphabet
Real Estate:
CoreCivic Inc.
GEO Group Inc.
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– Michael Bloom contributed to this report
