Wall Street braces for US Presidential election results 2020.
The Dow Jones Industrial Average rose 1.52% to 26,925.05 units, while the S&P 500 advanced 1.23% to 3,310.24 units. The NASDAQ gained 0.42% to 10,957.61 units. All a result of the anticipation of US Presidential election results 2020.
The key Wall Street indices rose on Monday, after their biggest weekly loss, since March, as investors braced for a week centered on the US Presidential election results 2020.
Biden leads national opinion polls, but the race is very close in crucial states that could tip the election toward Donald Trump.
Market players expect short-term volatility and major long-term policy changes related to trade and regulation, government spending and taxes, depending on whether President Donald Trump or his Democratic rival Joe Biden wins the election.
Analysts said the most likely outcome that would shake the stock markets in the short term is that there was no immediate winner tonight.
The CBOE volatility index, known as Wall Street’s gauge of fear, fell on Monday, after rising to nearly five-month highs last week, in anticipation of US Presidential election results 2020.
Investors betting on a Biden government, which is expected to promote renewable energy and provide greater fiscal stimulus, have managed to fuel a rally in stocks linked to solar, industrial and small-cap companies in recent weeks.
The S&P 500 ended a turbulent week at nearly six-week lows on Friday, following lackluster quarterly reports from tech giants and rising Coronavirus cases in America and Europe.
Investors will also be on the lookout this week for the Federal Reserve policy meeting, the monthly U.S. jobs report and the gains of about a quarter of the companies in the S&P 500 index.
But for now, all eyes are on US Presidential election results 2020!