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The major US stock indices rose sharply yesterday, with all three major indices performing strongly on Election Day. The S&P 500 was up 1.78 percent to close at 3,369 points, the Dow was up nearly 2 percent to 27,480 points, while the Nasdaq was up 1.76 percent to close at 11,237 points. We can almost say that the market may have guessed something, because yesterday the price of oil rose sharply, and added to the price of oil, the prices of the big oil companies, the technology sector did not perform badly either. Biden’s favorite sectors did not grow much, the cannabis sector showed mixed performance, but the electric car segment increased considerably.
We saw equity markets shake this morning in Asia as the US presidential election results were much tighter than expected, even at this point in doubt. Investors initially believed that a full Democratic victory could mitigate political risk and a massive stimulus package could arrive in the next few days. The mood swiftly changed, Trump acquired Florida and was more likely to be in other battlefield states.
The US futures indices followed the Asian move, first rising enormously and then falling to rise again.
Although the overall picture of the stock market is changing rapidly, the S&P 500 futures index is currently forecast to rise another 0.9 percent after yesterday’s rally.
The Dow could rise 0.2 percent smaller.
According to the current situation, there may also be a rise in European stock exchanges, the DAX may open by 0.3 percent.
Even today, the tech sector may lead the rise, the Tech Overweight Nasdaq Futures Index was already up 4 percent at dawn, currently indicating a more than 2.7 percent open.
Cover Image: Melissa Sue Gerrits / Getty Images
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