The American market opened with growth of key indexes after the elections
In the United States, the vote is being counted for the presidential elections. The market started the first trading session after the vote with growth, especially good dynamics was shown by the NASDAQ technology index.
On the first day after the US elections, the American stock market opened with growth in indices. Trading started at 17:30 Moscow time, and by 18:00 the broad market index S&P 500, which tracks the 500 largest American companies by capitalization in their various sectors, rose 1.84% to 3432 points. The Dow Jones Industrial Average (covers the 30 largest US companies) showed an increase of 1.5% – up to 27896 points. Technological NASDAQ Composite added 3.16% and reached 11,513.8 points.
The largest American companies by capitalization added several percent at the beginning of trading. Apple by 18:20 Moscow time grew by 4.4%, Alphabet – by 6.4%, Microsoft – by 4.8%, Amazon – 5.6%.
The American stock market is growing amid the counting of votes in the United States and a tense struggle for the presidency between the Republican, incumbent Donald Trump and Democrat Joe Biden.
The latest calculations by Bloomberg showed that Biden is in the lead so far. He has 238 electoral votes against Trump’s 213 votes. To win the election, a candidate must collect at least 270 electoral votes – they are assigned to each state, their votes go to one or another candidate, depending on the results of voting in the state.
It seems, notes TD Securities analyst Priya Misra in a commentary to The Wall Street Journal, that American investors place more emphasis on a candidate’s victory in the election, but they do not consider the importance of the fact that if the Republicans maintain a majority in the Senate, the US economy is more difficult. will receive additional financial incentives. This, in turn, is negative for the stock market.
During the day before the opening of trading in New York, futures for the S&P 500 index, which is one of the important indicators of market sentiment, was growing steadily. Only temporarily did the dynamics of the futures go into negative territory when Trump threatened to challenge the results of the vote in court if Biden was the winner.
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