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Photo illustration: Brendan Lynch/Axios. Photos: David Hume Kennerly, Alex Wong/Getty Images

50% of Americans changed their investing strategy after seeing the result of the presidential election, according to a Harris Poll survey for Empower Retirement and Personal Capital shared exclusively with Axios.

Why it matters: The election and the intense news cycles following it were perceived, correctly, as an inflection point of historical proportions. Doing nothing is hard in such situations, even if sticking to your long-term plan is what most financial advisers would recommend.

What they found: A third wave of the coronavirus, combined with stocks at all-time highs and uncertainty about the actions of the incoming administration, combined to persuade 65% of Americans to put more money into cash savings, says Personal Capital president Jay Shah, even as a smaller minority started "chasing heat" and buying high-flying tech stocks.

  • The biggest change after the election was in where new money was put to work. "Pre-election, one out of every five dollars coming to us would go into socially responsible strategies," says Shah. "Post-election, it's one in every three dollars."
  • Such investments could be a bet on President Biden's $3 trillion green-infrastructure plan, or they could just represent more optimism from Democrats, who are more likely to invest in those strategies.

The bottom line: The surging markets notwithstanding, most Americans are still more nervous about the economy than they were a year ago. That can make them twitchy, when it comes to their investments, and prone to take quick action when news happens.

Go deeper

Amy Harder, author of Generate
Jan 22, 2021 - Energy & Environment

After a banner 2020, cleantech poised to accelerate under Biden

Data: FactSet; Note: XOP is an exchange-traded fund (ETF) of U.S.-based oil and gas stocks. ICLN is an ETF of global clean energy stocks. Chart: Axios Visuals

After booming in 2020, stocks of clean-energy companies are poised to keep going up with President Biden pushing policies favorable to their bottom lines.

Where it stands: Cleantech stocks have blown past their last high in the mid-2000’s, which burst in the 2008 financial crisis. Not so far this time despite the pandemic crushing economies everywhere — and the oil industry.

Updated 1 hour ago - Sports

MLB headed for first lockout since '95 as deal expires

Baseball Commissioner Rob Manfred (L) and Major League Baseball Players Association executive director Tony Clark. Photo: Matt King/MLB via Getty Images

Major League Baseball's collective bargaining agreement expired at 11:59 p.m. ET Wednesday without a new deal in place.

Why it matters: With no CBA, the MLB is headed for the first management lockout since a 1994-95 strike led to the cancelation of the World Series for the first time in 90 years.

Media giants back Bannon's bid to release Jan. 6 documents

Former Trump adviser Steve Bannon at the FBI Washington Field Office in Washington, DC., in November. Photo: Win McNamee/Getty Images

A coalition of news outlets including the Washington Post is supporting Stephen Bannon's campaign for the release of documents related to his contempt of Congress charges, WashPost confirmed Wednesday.

Why it matters: WashPost, the New York Times, CNN, NBC, the Wall Street Journal's parent company and others filed a motion arguing that a proposed protective order seeking to prevent the documents from being released violates the First Amendment, per the Daily Mail, which first reported on the news.