Should Democratic challenger Joe Biden prevail, as polls suggest, some on Wall Street are looking ahead to his cabinet picks to gauge whether he will govern as a business-friendly moderate or promote progressive legislation that could weigh on sectors such as financials and oil but bolster clean energy. Among the cabinet posts that are most likely to have an effect on stock prices are secretary of the Treasury, which could oversee a $2.2 trillion stimulus bill backed by House Democrats, and Transportation, which will likely oversee a broad infrastructure package to hasten the development of electric vehicles as part of Biden's $2 trillion climate change plan. Biden has said he would consid
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