Over the past few weeks it has been impossible to ignore the flood of news coming from across the pond regarding the upcoming US presidential election. Despite all the bluster and bravado, there are a few key election commitments that could have an impact FTSE 100 companies in the following year. Here’s a rough game plan of how I’m planning now.

Big on infrastructure

A common theme of both candidates Trump and Harris is that they plan to spend big. This is likely in the form of several infrastructure projects across the country.

As a result, I expect FTSE 100 stocks that are involved in this area to do well. For example, I am thinking of buying Balfour Beatty (LSE: BBY). The company is actively involved in construction and engineering projects in the US at the moment, alongside work in the UK and elsewhere.

It is also a leader in public-private partnerships (PPPs). This is where the government ties up with a private contractor to help finance and execute a project. These can be very profitable and I would expect more to emerge in the coming year based on the efforts of a new president.

The stock is up 48% over the past year. I believe some of these gains over the past month are the result of some investors buying before the election. Despite this fact, price-earnings ratio the ratio is only 11.89. So while it’s not what I’d call undervalued, it’s not very expensive given the rise in the share price.

One risk is that project funding is delayed, meaning the company would not actually see any tangible financial benefits for a long time. This could cause some investors to be disappointed and sell.

Energy from different perspectives

Another theme that has been a topic of the campaign is energy. The Harris camp has pushed back in favor of renewable energy, while Trump is keen on energy independence. This would involve greater use of domestic oil reserves.

From that angle, I guess BP could do well in either outcome. In recent years, it has invested heavily in renewable energy, including offshore wind and bioenergy. However, at the same time, it is oil and gas that drive profitability, with a strong US footprint.

Focus on defense

Finally, whoever is president, defense will be a key point in the coming year and beyond. The world is a more dangerous place than it has been in a long time. Defense spending is likely to increase.

BAE Systems is one of the largest defense contractors. It operates worldwide, including in the US, but is listed on the FTSE 100. It is well placed to take advantage of the new orders and contracts that could be signed next year.

A risk for all three of my themes is that electoral commitments may not materialize after the campaigns are over. Politicians can say one thing and do quite another, so any diluted results or budget cuts could mean stocks I like underperform.