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Home / Business / Stock market rally here on Election Day as investors continue to valuate in Biden’s win

Stock market rally here on Election Day as investors continue to valuate in Biden’s win



After opening higher, the market continued to rise. The Dow (OUTRAGEOUS) trading 2.3%, or more than 600 points, higher around mid-morning, while S&P 500 (SPX) Wall Street’s broadest measure – up 2.1%. The Nasdaq Composite (COMP) has increased by almost 2%.
Last week, all three indices recorded their worst weeks since March due to uncertainty over the rise of Covid-19 infection, the government’s stimulus outlook and the election results.
The betting market continues to favor former Vice President Joe Biden winning the election, with P Prediction placing his chance at 64%.
Analysts at Goldman Sachs (GS) Think it is more likely that a winner will be declared on Tuesday night as swing states like Florida, Arizona, Georgia and North Carolina will report the results quickly.

This is the key to the stock market, which hates uncertainty. Do not know the winner for many days is known by investors as “nightmare scenario”

;.

Financial markets are continuing to hope – and then hopefully dashed – for more fiscal stimulus from Washington for months now, and investors are expecting a big package. under the administration of the Democratic Party.

“I think [the market is up on] Two things: some re-investigation from last week[‘s losses]But I also think that whoever wins, there will be some short-term money coming, whether it’s stimulus or infrastructure, “said JJ Kinahan, market strategist at TD Ameritrade.

The US economy has already started on a long way to recover, but economists and central bankers agree that more government spending will be needed to sustain improvements.

Meanwhile, President Donald Trump said Tuesday morning on “Fox & Friends” that he believes the market is bullish because investors are pricing in another term for him.

Trump has repeatedly said that the market would sell off if Biden was elected, although market participants dismissed this argument because of the expected government spending to spur the recovery.


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