This probably deserves it's own post, but after joining in 2018 or so, I'm still scarred by some of the comments. So, here goes.
I'm sure a lot of you were gung-ho after Biden's speech. He promoted semis, yayyy Q's. Promoted infrastructure spending, yayyy DOW. Wanted to reduce the cost of insulin (NVO, SNY, and LLY, puts), but also wanted to increase the investment in future Covid variants and testing, yayyy health care.
Plus, he ended on a very vigorous up-note. Lots of very aggressive words said with lots of passion. (google Eddie Izzard's comments about JFK).
Here are some of the things that I think will lead to a downturn in the market. He's going to want to increase taxes on corporations. It's due, it's reasonable, but it's also going to hit the bottom line.
He's going to push prescription drug prices lower and try to further nationalized health care. Again, it's due, it's reasonable, but it will hit the healthcare sector hard.
One of the lines that I think will have a big impact, even though it was very quickly said and forgotten is that he will increase the watchdogs. This will likely hit the banking sector. I don't think he'll even need to go to congress for it. He's the executive. He can just increase the allocation for hires in the SEC, the IRS, and whatever else watchdogs are out there.