Decline on Wall Street in Electoral Streak – E24

It fuels the electoral fever in the United States after several days of counting the votes.

While Joe Biden is still closing in on a potential election winner, the trade has opened up on Wall Street. Here’s what it looks like a few minutes after the stock market starts:

• Dow Jones down 0.30 percent
• Nasdaq down 0.48 percent
• S&P 500 down 0.31 percent

The indices, which fell significantly in the run-up to trading, rebounded after the “non-farm payrolls” labor report showed stronger-than-expected US job growth in October.

The results come after a week of sharp gains on Wall Street after Election Day. The rise has been strongest for the Nasdaq heavy-tech index.

– a bit surprising

– The stock market has perhaps done surprisingly well, says DNB senior economist Knut A. Magnussen of the days after the election.

He notes that the market is optimistic about a possible Biden administration in the White House, with a divided Congress.

– It is clear now that he does not obtain a majority in the Senate. It sets limits to your playing field. Then you do not get the tax increases on which you have gone to the polls, and this is seen in a positive way in the market. Perhaps there is also less chance of increased regulations for technology companies, which has been much talked about.

US presidential election: Biden takes the lead in Georiga

Waiting for a smaller crisis package

There has also been a lot of talk about the economic virus package in the United States, which House Leader Nancy Pelosi and Finance Minister Stephen Mnuchin negotiated in the run-up to the elections.

However, they did not finish.

– In the negotiations that took place, Nancy Pelosi and Stephen Mnuchin almost agreed on a big package, apparently. But it is the representatives in the Senate who will participate in the decision, and they have wanted a smaller crisis package, says Magnussen.

– We believe it will be a package, but smaller than before the elections. We believe that you can take care of the New Year before it is in place.

Biden leads in Georgia

Donald Trump’s chances of winning have diminished as the votes have been counted on Thursday and Friday.

After leading the state of Georgia, events have turned around for the president. Biden now leads by more than 1,000 votes.

There are 16 voters in this state. If Biden wins here, he will have 269 voters and therefore only one is missing from the winner of the election.

At the same time, it will be difficult for President Donald Trump to get enough voters to reach 270, if he loses in the state.

The presidential election could, in theory, be a tie. If this is to happen, Biden must win in Georgia and Donald Trump must take Alaska, Arizona, Nevada, North Carolina, and Pennsylvania.