US stock futures are showing returns when trading starts on this Election Day.
Major futures indicators show a 1.5% gain at the open.
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The market extended gains from Monday’s trading session.
Asian markets increased. China’s Shanghai Composite rose 1.4% and Hong Kong̵7;s Hang Seng rose 1.9%.
The Japanese market was closed for the holiday.
In Europe, London’s FTSE is up 1.9%, Germany’s DAX is up 2% and France’s CAC is 2.3% higher.
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Investors have turned between optimism that the global economy is coping better with the coronavirus pandemic and worries that US lawmakers didn’t approve new aid after unemployment benefits. extended support for expired consumer spending.
Democrats and Republicans have been haggling over an extension of the stimulus for months, since the last round of additional benefits for workers fired and other stimulus measures have expired. But so far deep partisan divisions have hampered progress.
Traders seem to be hoping Biden and Senate Democrats’ victory could break the deadlock.
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The market is not reassured by Europe’s rising infection rates, which is forcing many governments to re-impose restrictions on travel and business.
On Wall Street, the standard S&P 500 index rose 1.2% to 3,310.24. The Dow Jones industrial average rose 1.6% to 26,925.05. The Nasdaq Composite Index rose 0.4 percent, to 10,957.61.
|Me: DJI||DOW JONES AVERAGES||26925.05||+423.45||+ 1.60%|
|SP500||S&P 500||3310.24||+40,28||+ 1.23%|
|Me: COMP||NASDAQ Composite Index||10957.611413||+46.02||+ 0.42%|
Also this week, the US Federal Reserve will announce its latest interest rate decision on Thursday.
The US Department of Labor releases its monthly employment report on Friday.
About 130 companies in the S&P 500 are expected to report quarterly results this week.
Investors are concerned that a contested election means it may take weeks before a winner in the White House is certain.
Which party wins control of the Senate can be just as important as the term of president.
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In another transaction, US crude oil prices rose 84 cents to $ 37.65 a barrel in electronic trading on the New York Mercantile Exchange. It rose $ 1.02 on Monday to $ 36.81 per barrel. Brent crude oil, the international standard, rose 82 cents to $ 39.79. It rose $ 1.03 to $ 38.97 in the previous session.
Associated Press contributed to this report.