Reuters. A statue of former US President George W. Washington Washington is seen on the New York Stock Exchange (NYSE) after election day in Manhattan, New York City.By Sagarika Jayasinghe and Susan Mathew
(Reuters) – U.S. Stock futures rallied at stake on Thursday, saying a potential gridlock in Washington could reduce the likelihood of a major policy change that would hurt corporate America, although there have been concerns about the risk of a contested presidential election.
Democrat Jn Biden came close to winning the White House race on Thursday, as election officials prolong votes in a handful of states determining the result, while Republican President Donald Trump filed a lawsuit and demanded an account.
Republicans, meanwhile, have agreed to retain control of the U.S. Senate, which will make it harder for Biden to make promises to the president to rein in Big Tech and other businesses.
Jonathan Bell, chief investment officer at Stanhope Capital in London, said: “The outcome of the election is in many ways the best news for markets in terms of prospects for a Democratic president and a Republican Senate because it prevents more extreme policies.”
Shares of Technaga Mega-Caps, including Apple Pull Inc. (Nasdaq :), Amazon.com Inc. (Nasdaq 🙂 and Alphabet (Nasdaq 🙂 Corp. Wednesday.
Renewable energy, infrastructure, marijuana and trade-sensitive stocks, which analysts have described as winning under the Biden administration, were all on the highs after weakening Wall Street in the previous session.
But investors also demanded the safety of bonds as a split Congress would disrupt the prospect of a bumper fiscal stimulus package – critical to reviving the economy from a coronavirus-driven recession. [US/]
The focus will also be on the policy statement after the two-day meeting of the Federal Reserve, but as the final outcome of the election is still uncertain, the central bank expects to repeat its pledge to do whatever it can to help. Economy.
Wall Street key indices closed higher for more than a week with a rebound on Wednesday, with the benchmark S&P 500 posting the best day since June and the tech-heavy Nasdaq from April.
At 5:16 a.m. ET was up 352 points, or 1.27%, while the S&P 500 E-Minis was up 61.5 points, or 1.79%, to 321.75 points, or 2.74%.
Such as in energy stocks Exxon Mobil (NYSE 🙂 and Chevron (NYSE 🙂 Oil prices slipped 0.3% and 0.9%, respectively. [O/R]
Graphic: Trump and the Stock Market – https://ographicics.reilers.com/USA-STOCKS/xlbvgwyzmvq/trumptimeline.png
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