Stocks may have staged their largest Election-day rally since 1984, giving Asia a bump up earlier today, but U.S. index futures and European issues have yet to feel the love. Still, if history is any measure, help may soon be on the way. Judging by the speed with which the Standard & Poor's 500 Index has fallen, a full recovery could begin as soon as July, if the market’s action mimics that of recessions ended in 1975, 1982 and 1991 (or so says Bloomberg, which came to this conclusion after vetting the usual heaping mounds of data). In the meantime, here’s your reality check on the changes you can expect to see from the Obama administration – not just in the coming months, but for years on out.

Rising Democratic power in Washington is likely to usher in a drive for tighter financial regulation, increased social spending and more labor-friendly policies amid a more challenging climate for business.

Business leaders and lobbyists were expressing hope that Democrats wouldn't raise taxes in the middle of an economic decline or erect significant new barriers to trade.

A broad swath of businesses is prepared for a long-anticipated revamp of the nation's health-care system. With Democrats committed to aggressive efforts to curb oil consumption and put the U.S. on track to reduce emissions of greenhouse gases, business hostility to proposals to cap emissions is giving way to efforts by industries -- ranging from power to information technology -- to profit from a green tilt in government policy.

General Electric Co., with substantial interests in a wide array of sectors, including financial services, energy technology, consumer electronics and health care, could be hurt by government efforts to exert more control over commerce. It also could be helped by more regulations.

"If you think we won't get more regulation in places other than financial services, you're nuts," GE Chief Executive Officer Jeffrey Immelt told students at Columbia Business School last month. "We'll get more regulation in health care, energy and other areas."

Mr. Immelt says the heightened regulation "could be a catalyst for positive change....It doesn't have to be a negative." Above all, business leaders want Washington to take action to revive the economy. Big retailers, worried about a dreary Christmas season, are hoping for a new government stimulus package that will spur consumer spending.

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