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The Dow Jones Futures rose more than 1,500 on the day, indicating that the Wall Street stock markets will rebound tonight. Responds to Advances in COVID-19 Vaccine Production
The market was also boosted by Joe Biden’s announcement of a victory in the US presidential election.
At 7:26 p.m. ET, Dow Jones futures were up 1,514 points, or 5.37%, to 29,718 points.
Pfizer and BioNTech announced today that the results of the experiment indicate that the company’s COVID-19 Vaccine is over 90% effective in preventing the COVID-19 virus. For those who have never been infected before
Biden announced his victory in the presidential election on Saturday. And set to become the 46th president of the United States, Biden promised that he would smooth the transfer of power. And it will promote measures to control the spread of the COVID-19 virus as well as other important measures
Looking at the latest congressional results, Democrats are likely to retain a majority in the US House of Representatives. While the race for the Senate remains uncertain. Georgia’s senatorial elections are likely to be decided in a runoff in January.
If Mr. Biden wins an official presidential election AND the Democrats can have a full majority in Congress, both in the Senate and the US House of Representatives. It will make pushing the economic stimulus run smoothly after being blocked under President Donald Trump.
But if Republicans continue to dominate the majority in the Senate it will also have a positive effect on the stock market. As a result, Congress may not pass Biden’s corporate income tax increase policy. This allows listed companies to continue to benefit from the Trump administration’s tax cut policy.
Also, such a balance of power This will reduce the chances that the Biden government will issue regulatory measures for financial institutions. And companies of the American technology group
