By Jesse Cohen
Investment.com – Shares above mostly ended in price on Friday, but still have their best weekly performance for seven months as traders seek more clarity on presidential election results.
Prices fell 66 points, or 0.2%, to close the day at 28,323, ending the session down about 1 point at 3,509, while up 0.1% less to 11,895.
During the week, the Dow and S&P 500 rose 6.9% and 7.3%, respectively, reaching the largest weekly gains since early April. The Nasdaq is up 9% in that time frame and also has its best one-week performance since April.
The S&P 500 also posted the biggest increase in election week since 1932.
Democratic candidate Joe Biden is in the race to become the next president of the United States, with 253 electoral votes compared to President Donald Trump’s 213 electoral votes, according to predictions.
Biden maintained its advantage on Saturday, but TV networks didn’t claim a winner as profits were still too close to call in key battlefield states that would determine the winner in the election. .
Votes are still being counted in Georgia, Pennsylvania, Nevada and Arizona – where Biden currently leads – as well as North Carolina – where Trump is leading.
Investors will monitor ongoing election developments over the coming week, as well as the record increase in coronavirus cases.
President Donald Trump has so far shown no signs of being willing to give in, issuing a series of repeated statements, while his campaign in several states regarding the vote count is ongoing.
Americans have waited longer than any presidential election since 2000 to know the winner, with tally being slowed down by record numbers of mailed votes due to the ongoing coronavirus pandemic.
According to Reuters statistics, the number of Covid-19 infections in the US rose at least on Friday, the third consecutive daily increase of more than 100,000 as the third outbreak spread across the country.
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