The US elections results are not yet decided, but to realize that it is time to call it quits, Trump should really have focused on the complexities of the markets. At the end of the election, nevertheless, investors can get the right deal — the Democratic president, who won by a tiny difference and is constrained by the Republican Senate. This indicates there would be an open path to future economic incentives, but not to tighten taxes. Later, we will see how all of this will work for the economy, and in the foreseeable term, a soft financial policy will weaken the dollar and boost the price of liquid assets.
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A historic rise in the incidence of COVID-19 remained well beyond brackets of euphoria. And today, statistics observed an increase in non-agricultural sector productivity and a drop in the number of jobless claims. Third-quarter corporate earnings are also normally better than anticipated.
In addition to the counting of votes in the remaining states, eyes are focused on the outcome of the two-day Fed conference. Federal bankers are anticipated, like the British counterparts today, to undertake no modifications to monetary policy, but to imply further relaxation in December.
The Nasdaq electronic exchange index rose by 255.93 points to 11846.71 points (+ 2.21 per cent).
For WTI crude oil, the cost of December benchmarks plummeted by 1.3 per cent to $38.64 per barrel. Gold futures per troy ounce soared 2.73 per cent to $1,948. Besides that, the EUR / USD currency pair is increasing by 0.66 per cent and is at approximately 1.1803.
After the company posted a profit of $4 billion in the third quarter, General Motors Company (GM) shares increased by 1.8 per cent, one and a half times greater than anticipated.
After the company posted record sales due to strong gold prices, gold mining firm Barrick Gold added 6.6 per cent.
With the high demand for fifth-generation ( 5G) products, Qualcomm Inc. also surpassed investment objectives, and the company’s stock jumped by 12.6 per cent.
Moreover, the tech industry share on the rise: Microsoft, Apple, Amazon are growing by more than 2.5%.
And how that’s going to unfold, we’ll learn tomorrow.