There was an interesting discussion about this very question of Wall Street’s preferences on Bloomberg last week. The upshot was that Wall Street would be unmoved and indeed perfectly happy with any Democratic vice-presidential pick except Elizabeth Warren.
Warren’s social-Democratic proposals to restructure U.S. capitalism, introduce new taxes, including on great wealth, and her apparent willingness to fight hard to close tax loopholes and international tax havens, made her the only unwanted choice on Wall Street.
Stocks are booming again due to the seemingly unlimited willingness of the Federal Reserve to prop up equity values, even should production continue its decline and should a lasting Depression develop. Of course in the latter case, a collapse of equity values might re-occur.
My own feeling is that only if a vaccine arrives relatively quickly, and the economy recovers or adjusts almost completely, will long term employment levels recover significantly.
Most likely unemployment will remain much higher than before as service industries and tourism suffer and foreign trade wars increase. Most wages will deflate in real terms. Our nation is quite likely going to experience a remarkable redistribution of wealth upwards, and the gap between rich and poor, capitalist stock owners and labor, is likely to grow. Whereas today perhaps 50 % of our population lacks any savings or “cushion,” in future that will increase considerably.