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Investors are hoping the election result will lead to a budget support plan for an economy hit by the health crisis.
The New York Stock Exchange closed on Tuesday with a strong rally as Americans decide who will be the country’s president for the next four years. The Dow Jones Index was up 545.41 points, or 2.03%, the S&P 500 gained 57.82 points, or 1.75%, and the Nasdaq was up 198.47 points, or 1, 81%.
Investors they seem to be betting on a clear win, and therefore hope that the election result will quickly lead to a budget support plan for an economy hit by the health crisis.
The leadership of Donald Trump’s Democrat Joe Biden in national opinion polls has raised expectations of a decisive result and a post-election stimulus package.
“It seems that [las diferencias en] polls have been tightened, which makes it a little harder for Biden, but the market, reacting like now, tells me they think we’ll get a resolution pretty quickly. If for whatever reason we don’t have a clear picture, if the loser is unwilling to give in and that ends up going to court, some hectic and volatile markets are waiting for us for a while, “said Randy Frederick, vice president Schwab Trading and Derivatives Market in Austin, Texas, cited by Reuters.
“During the past 48 hours, the markets they became a little more convinced of Joe Biden’s victory without the risk of weeks of uncertainty and confusion, ”explained Derek Halpenny, head of research for the MUFG group.
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