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Wall Street opens with Biden taking the lead in Michigan. Nasdaq with the biggest gain in seven months
The top three Wall Street indices opened their session on Wednesday, at a time when Democratic candidate Joe Biden just overtook Donald Trump in the so far counted votes in the state of Michigan.
At this point, the Dow Jones gains 0.94% to 27,739.04 points and the S&P 500 is up 1.56% to 3,421.66 points.
The technological Nasdaq Composite takes the lead and gains 2.88% to 11,482.52 points, having managed to rise by more than 3% which, in any case, represents the largest increase in the last seven months.
The tech sector is leading the Wall Street “rally”, after being one of the hardest hit in recent weeks, after the below-expected results of some of the biggest “big techs” in the United States, which still managed, almost all, increase profits over last year.
The presidential race is tighter than expected among investors, with Joe Biden and Donald Trump, very close to each other. The numbers are also divided in the Senate and the House of Representatives.
Minutes ago the The Michigan count now gives Biden an edge. According to minute data from the Wall Street Journal, Michigan is now winning Biden, who, if confirmed, will receive another 16 votes in the constituency.
Right now, with 94% of the votes counted, Biden is ahead with 49.3%, while Trump is now with 49.1%. This could be a decisive state, if Biden’s tendency to win Wisconsin and Nevada, states where votes are still counted, are confirmed.
Even today, although the eyes are completely on the elections, the data on private employment in the United States show an increase of 365 thousand new jobs in October, well below expectations (600 thousand).
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