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The Dow Jones stock market closed more than 500 points last night (November 3) praising the expectations of US Democratic presidential candidate Joe Biden. He will win in this election AND the Democrats will be able to dominate in both the Senate and the US House of Representatives. This will allow the Biden administration to launch a major stimulus package.
The Dow Jones Industrial Average closed at 27,480.03 points, up 554.98 or + 2.06%, while the S & P500 closed at 3,369.02, up 58.78 or + 1.78%. The Nasdaq closed at 11,160.57 points, up 202.96 or + 1.85%.
Investors are still waiting for the results of the official US presidential elections, as the United States is a large country and uses different time zones. Therefore, each state has different hours to open and close the polls. For Georgia, Indiana, Kentucky, South Carolina, Vermont and Virginia. Be the first states to close polling stations AND I started counting scores as early as the US Directly with today at 7:00 am Thailand time
Zack Pandel, Goldman analyst Sachs said. Most investors expect the results of this election to be a “Blue Wave” phenomenon, or a situation where Biden can defeat Trump. And Democrats have dominated the majority in both the US Senate and House of Representatives. Which, if it is as expected, will open the way for Biden’s task force to issue massive stimulus measures. This will help save the economy affected by the COVID-19 virus.
Democrats have proposed a $ 2.2 trillion economic stimulus package. While Republicans offer only $ 1.9 trillion. Corrective measures for the effects of the COVID-19 epidemic
Investors bought a larger stake after polls indicated Biden’s victory. That helped support the jump of 10 of the 11 stocks calculated in the S & P500 index, led by a 2% jump in the banking and industrial stock indices, with Goldman Sachs climbing 4.09%. Axles were up 3.15 percent and Bank of America shares were up 2.53 percent. Honeywell shares were up 3.23 percent, Kather Pillar’s shares were up 2.7 percent, Boeing’s shares were up 3.4 percent, 3M’s shares were up 1.5 percent.
However, the energy sector index fell 0.75% despite the fact that the price of WTI oil rose last night. Shares of Conoco Phillip fell 3.04 percent, shares of ExxonMobil were down 1.74 percent, shares of Chevron fell 0.46 percent.
Shares of Alibaba Group Holdings, which are listed on the New York Stock Exchange, fell 8.1 percent after Chinese officials suspended Ant Group’s acquisition of Alibaba, a fintech company. Listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange
The suspension of the listing of shares on the Hong Kong and Shanghai stock exchanges. It has affected Treant’s goals. The group raised $ 37 billion in initial public offering (IPO) funds. What is the largest IPO in the world? If successful, you could break the previous record in the Saudi company. The Monastery of the Cow was previously made at $ 29 billion.
In addition to the election results, investors are also on the lookout for the Federal Reserve’s Monetary Policy Conference on November 4-5 and the release of US non-farm payrolls on Friday.
For the latest US economic data released last night. The United States Department of Commerce reported. US factory orders rose 1.1% in September, better than August’s 0.6% increase and more than analysts expected a 1% increase, driven by the word. Large orders for computer and electronic products
Other US economic data to be released this week include ADP’s October private employment figures, September’s trade balance, the Purchasing Managers Index (PMI) for the last month of services. Marquette October, the US Institute of Supply Management (ISM) October Services Index, the weekly number of jobless claims, and the October non-farm employment figure.
