McCain Win Would Boost Oil, Defense and Big Pharma Stocks
Sep 3rd, 2008 | By Martin Hutchinson | Category: Featured, Financial NewsAn inherited budget deficit of over $400 billion will tie the hands of whoever is elected president this November.
However, Money Morning’s Martin Hutchinson says a McCain victory would boost defense and Big Pharma stocks. And McCain’s VP choice, Sarah Palin, is a strong advocate of more drilling for oil, which is encouraging for domestic oil stocks.
On the other hand, McCain would likely hold onto Ben Bernanke as Fed chief. This would mean an extended period of low interest rates and painful inflation down the line.