By Sagarika Jaisinghani
(Reuters) – US stock index futures spiked on Thursday as investors were optimistic that a potential deadlock in Washington could reduce the chances of a major policy change, though still there is also concern about the risk of a presidential election.
At 3:06 am ET, up 280 points, or 1.01%, the S&P 500 e-minis up 42.25 points, or 1.23%, and up 221.75 points, or 1.89. %.
Democrat Joe Biden was closer to winning the US presidential race on Thursday as election officials checking votes in some states would decide the outcome and the protesters took to the streets .
Meanwhile, Republicans appear poised to retain control of the US Senate on Wednesday after Sen. Susan Collins defied political odds to win re-election in Maine.
Philip Blancato, chief executive of Ladenburg Thalmann Asset Management in New York, said: “Assuming that everything remains the same – that the Republicans will keep control of the Senate – then this is for the best of both. world”.
“The market will protect its capital gains and we will get a stimulus in some way. The worst result that can happen is a ‘green sweep’ and a controversial election. . “
Main Wall Street indexes rallied sharply on Wednesday to close at their highest level in more than a week, with the benchmark S&P 500 index posting its best date since June and the tech-heavy Nasdaq since April .
Apple Inc (NASDAQ :), Amazon.com Inc (NASDAQ 🙂 and Alphabet (NASDAQ 🙂 Corp increased more than 4%, while Facebook (NASDAQ 🙂 increased 8%, as investors bet that Big companies were Tech will face less antitrust risks than a divided Congress.
Shares of defense contractor Northrop Grumman (NYSE 🙂 and Lockheed Martin (NYSE 🙂 also increased on expectations for a cut in defense spending.
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