ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Finance

Wall Street celebrates in post-election rally even as winner remains unclear, S&P jumps by 2%

Business 360 by Business 360
November 6, 2020
in Finance, News, World
0
Wall Street celebrates in post-election rally even as winner remains unclear, S&P jumps by 2%

While the world is still anxiously awaiting the outcome of the nail biter 2020 election, Wall Street is already in full-blown celebration mode.

FILE PHOTO: A U.S flag is seen on the New York Stock Exchange (NYSE) on Election Day in Manhattan, New York City, New York, U.S., November 3, 2020. REUTERS/Andrew Kelly/File Photo

The S&P 500 has surged nearly 7% this week, putting the benchmark index on track for its best election week performance since 1932, according to Bespoke Investment Group.

The rally reflects a sense of relief among investors that once all the votes are counted, neither party will have a stranglehold over Washington.

Despite the twin economic and health crises gripping the United States, no blue wave (or red wave) arrived. Control of Congress is likely to be divided between Republicans and Democrats.

That means whether it’s four more years of President Donald Trump or it’s Joe Biden in the White House, policy changes are likely to be incremental, not sweeping. And that’s a relief to investors, who prefer restraint over extremism.

“Whether it’s populism on the right or MMT [modern monetary theory] on the left, there’s a lot to be said for moderation,” said David Kelly, chief market strategist at JPMorgan Funds. “We’re all just going to have to work together.”

I will win unless Democrats ‘steal’ Election – Trump

Meanwhile, US President Donald Trump has complained of “tremendous corruption and fraud in the mail-in ballots”, without giving any evidence for his claim saying he would win the presidential election unless Democrats ‘steal’ the polls.

Trump claimed without evidence Thursday that Democrats were trying to “steal” the US election with illegal votes, saying he would “easily win” the race against Joe Biden without the alleged interference.
President Donald Trump repeats assertion that he has won the election, although votes are still being counted

“If you count the legal votes, I easily win. If you count the illegal votes, they can try to steal the election from us,” said the president as his reelection hopes hung by a thread.

Trump said his team had launched a “tremendous amount of litigation” to counter what he called the “corruption” of Democrats, even as several officials in battleground states where the vote remains undecided have defended the integrity of the vote.

Meanwhile, Biden has racked up a record 71.5 million votes and has said he will win enough states to become president.

Overall turnout is projected to be the highest in 120 years at 66.9%, and results might not be ready for days.

Previous Post

Transforming Africa’s ports: Six recommendations for a world-class port sector

Next Post

Health: FG seeks private sector partnership to stop medical tourism

Business 360

Business 360

Next Post
Health: FG seeks private sector partnership to stop medical tourism

Health: FG seeks private sector partnership to stop medical tourism

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

August 10, 2020
COVID-19: Maize Farmers cut down production by 30%

COVID-19: Maize Farmers cut down production by 30%

July 15, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
Ethiopian Airlines assures Air Travelers of planned resumption of flight to Kano and Enugu

Ethiopian Airlines Inaugurates a second Aviation Academy Campus in Hawassa

February 7, 2023
Access Bank introduces the “Love is More” campaign for Valentine Season to celebrate its customers.

Access Bank introduces the “Love is More” campaign for Valentine Season to celebrate its customers.

February 7, 2023
NECA predicts business shutdown over naira crisis

NECA predicts business shutdown over naira crisis

February 6, 2023
Hikes in Airfares: NANTA urges government to partner with more indigenous airlines to explore more international routes

Hikes in Airfares: NANTA urges government to partner with more indigenous airlines to explore more international routes

February 6, 2023
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • AI
  • Art
  • Arts
  • Aviation
  • Blockchain
  • Business 360 Weekly
  • Business Travels
  • Capital Market
  • Corporate
  • Destination Business
  • Economy
  • Education
  • Electric Vehicles
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • Fashion
  • Fashion
  • Finance
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • News
  • NGOs
  • Political Economy
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tech
  • Tourism
  • Transportation
  • Uncategorized
  • World

Recent News

Ethiopian Airlines assures Air Travelers of planned resumption of flight to Kano and Enugu

Ethiopian Airlines Inaugurates a second Aviation Academy Campus in Hawassa

February 7, 2023
Access Bank introduces the “Love is More” campaign for Valentine Season to celebrate its customers.

Access Bank introduces the “Love is More” campaign for Valentine Season to celebrate its customers.

February 7, 2023
  • Africa
  • World
  • Our Shows

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!