On Sunday, the United States stocks futures updated as people (especially investors) acquired a chance to react to the estimates of Biden’s presidential success.
Dow futures rose last time around 1.2 percent or 349 points, S&P was elevated around 1.5 percent, and Nasdaq futures were rose 2.1 percent.
Global stocks and US futures rally as investors reacted positively to greater political certainty following Joe Biden’s victory in the US presidential election. https://t.co/ndd1v8a1cm
— CNN Philippines (@cnnphilippines) November 9, 2020
On Friday, the action comes as stocks ended and mostly unchanged. Moreover, Dow fell 0.2 percent or 67 points, and Nasdaq and S&P were flat.
Wall Street was previously hoping for Joe Biden’s success as the election came to tip in favor of Biden last week. Although investors can react with more accuracy, a media outlet, CNN, proposed on Saturday that Joe Biden would become U.S. President because his path to success in Pennsylvania seemed to deliver him sufficient electoral votes.
Senate race is still undecidable
Michael Hewson, a chief market analyst at Commercial Metals Company (CMC), described that it is what happens in the Senate election that could control the upcoming action up or down. Furthermore, he added that if that seems as if it might change in the run-offs in Jan, then people could see some weakness in particular parts of the stock market in the event, the Democrats attain their blue wave wish.
On Monday, markets in the Asia Pacific even rallied, and the Kospi Index of South Korea was ramped up 1.3 percent while Hong Kong’s HSI (Hang Seng Index) up 1.2 percent and the Shanghai Composite Index of China ramp up 1.1 percent. Moreover, the Nikkei of Japan up 2.1 percent, which is already dealing at its maximum in around 3 decades.
A strategist with DailyFX, Margaret Yang, described that outside of America, stock markets would be looking for indications that Joe Biden’s administration will adopt a more diplomatic approach to international trading conversations than Donald Trump.
On Monday, in a note, yang described that a fresh chapter to the United States foreign policy is crucial to the world and of particular interest for the export-oriented countries, including Mexico, China, Japan, and the European Union.
Investors are looking for the upcoming moves of Joe Biden’s administration. Joe Biden declared on Saturday during his winning speech his strategies to gather a COVID-19 task force that will help to control the blowout of the virus and also expected to declare the names of the leaders in the COVID-19 task force.