Market Highlights Amid Accelerating Market With Biden’s Likely Victory – Stocks Register

Market Highlights Amid Accelerating Market With Biden’s Likely Victory

The New York Stock Exchange is rose for the fourth straight session on Thursday, as the vote count in the United States continues to tie Joe Biden and Donald Trump in the White House fight. Joe Biden is ahead with partial results, but legal challenge proceedings have already been launched by Donald Trump. Either way, investors welcome the possibility of a split Congress in Washington, with a Republican-controlled Senate that would mitigate the risks of anti-market legislation should Joe Biden win.

The Dow Jones index climbed 1.95% to 28,390.18 points after a rise of 5% from Monday to Wednesday, while the large S&P 500 index jumped 1.95% to 3,510 points after adding +5.2% over 3 sessions, and the Nasdaq Composite, rich in technology and biotech inventories, climbed 2.95% to 11,8890 points after  a rise of +6.7% over 3 sessions. The EuroStoxx 50 rose 1.72 percent earlier in Europe and the CAC 40 ended up 1.24 percent.

Wall Street more than fulfilled its losses from last week in four days, when the DJIA dropped 6.5 percent, the S&P 500 fell 5.6 percent and the Nasdaq fell 5.5 percent.

On Thursday, all 11 S&P 500 industry indexes rose, beginning with core materials  which went up +4.1%, technology rose by (+2.4%, finance added +2.4% and industry increased by +2.4%.

The dollar is accelerating its fall against the major currencies of the world, a victim of the appetite for risk that attracts investors to the stock markets. On the other hand, in the weeks leading up to the election in the United States, the greenback had progressed, serving as a safe haven. The dollar index (measuring its output against the basket of six currencies) yields 0.64% to 92.81 points, close to its two-year low, while the euro points to 1.1806 dollars (+0.71%).

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