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Michael Bloomberg Runs for President, Great News for Wall Street

S&P 500
S&P 500

Michael Bloomberg announced on Sunday that he was running for president to defeat Mr Trump and “rebuild America”. Mike Bloomberg, a 77-year-old billionaire and former Republican noted that the USA could not afford four more years of President Donald Trump reckless and unethical actions.

Michael Bloomberg left the Democratic Party in 2001 to run for New York City mayor as a Republican. After being re-elected in 2004, Michael Bloomberg registered as an independent candidate in 2007 and won the re-election.

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Bloomberg knows the markets and real economy very well, so a candidate from Democrats coming from Wall Street will be supportive for stocks and equity indices. But not for all sectors as Michael Bloomberg has committed nearly $1 billion since 2007 to combat tobacco use worldwide. Bloomberg is a big fun renewable energy from sources like wind and solar, instead of coal power and prefers electric vehicles instead of those run by fossil fuels. Bloomberg is also supporting a gun reform; Everytown for Gun Safety, which he helped found in 2014, has become a strong voice in the battle over gun legislation and an advocate of limiting gun violence.

Analysts expect that Michael Bloomberg as a Wall Street enthusiast he will try to restore US-China trade relationships, a relationship that is damaged during the Trump Presidency.

All in all, if Bloomberg wins the Democratic candidancy then in US general election both candidates from Rebublicans and Democrats will be Wall Street-friendly.More content