US Debate Fallout Spurs Prison, Oil Stocks; Renewables Lag
- Groups that would benefit from Biden’s second term are down
- Prisons, credit card servicers and health care among gainers
People watch the presidential debate between Joe Biden and Donald Trump in New York City on June 27.
Photographer: Michael M. Santiago/Getty ImagesThis article is for subscribers only.
Equities traders across multiple sectors are rearranging their positions in the aftermath of the much-anticipated presidential debate between President Joe Biden and former President Donald Trump.
Biden’s shaky performance boosted sentiment around Trump’s odds for securing a second term in the White House. The result: shares of private prisons, credit-cards companies and health insurance firms — the groups that would potentially win from another Trump presidency — are trading higher on Friday, while renewable energy and cannabis stocks are in the red.