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Business

Debate puts White House race on Wall Street agenda

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Business

Debate puts White House race on Wall Street agenda

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COMING UP:Debate puts White House race on Wall Street agenda

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00:00:00
>> The race for the White House is at a fevered pitch. The polls are tightening and both sides are prepping for an epic battle. But you wouldn't notice that if you're on Wall Street. That is, until now. I'm Conway Gittens in New York. Despite missteps by the Clinton campaign, Wall Street is still betting on a Hillary Clinton win in November.
00:00:21
Analysts say that if Donald Trump gets any more of a bump after his first presidential debate with Hillary Clinton, then the markets could turn south. One investor put it this way, the market hates uncertainty. And though a Republican in the White House is usually welcomed on Wall Street, Trump is no normal Republican.
00:00:43
His say-this-today, say-something-else-tomorrow style introduces a great uncertainty markets are not used to. And then, there's his attack on free trade, the tongue lashings against corporate CEOs like Amazon's Jeff Bezos, and his plans to rollback the Affordable Care Act. Reuters markets reporter, Noel Randewich.>> Wells Fargo put out a report recently trying to quantify the effects of a Clinton presidency versus a Trump presidency under different circumstances of control in Congress.
00:01:19
And their basic view was that Hillary Clinton as president would be neutral for financial markets, and that Donald Trump as president would be slightly negative.>> But a Clinton win at the debate podium doesn't mean a win for all. Her complaints about too high drug prices puts a target on drug makers.
00:01:36
Expect that sector to tumble if the debate renews her campaign vigor. Wall Street, however, is hoping for more substance than style in coming days when it comes to regulation, taxes, immigration, health care, and trade as investors try to guess, who will be the next leader of the world's biggest economy.