Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

U.S. stock futures higher after Biden election win

Stock Markets Nov 08, 2020 07:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
US500
+0.20%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PRU
0.00%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
1YMZ2
+0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NQZ2
+0.37%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MIAPJ...
+1.23%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stock index futures rose on Sunday after President-elect Joe Biden was declared the winner on in a highly contentious election.

Biden's victory in Pennsylvania on Saturday put him above the 270 Electoral College votes needed to secure the presidency, four days after Election Day, although President Donald Trump does not plan to concede anytime soon.

S&P 500 e-mini futures were up 34.5 points, or 0.99%, Dow e-minis <1YMcv1> were up 277 points, or 0.98%, and Nasdaq 100 e-minis were up 147.25 points, or 1.22%.

Shares in Asia were modestly higher, with MSCI's broadest index of Asia Pacific shares outside of Japan (MIAPJ0000PUS) up 0.36% after a 6.2% gain in the prior week, its best weekly performance in 5 months.

U.S. stocks closed Friday's session little changed, but each of the three major indexes still managed to notch their biggest weekly percentage gains since April, in part due to the belief Congress will remain divided even as control of the Senate is still undecided.

"Although the President has not conceded and there was concern regarding legal challenges, prominent Republicans, including former President (George W.) Bush in essence publicly called the election and the market has embraced the election results too," said Quincy Krosby, chief market strategist at Prudential Financial (NYSE:PRU) in Newark, New Jersey.

"The market is up and it looks as if we're going go continue."

With the S&P 500 (SPX) sitting just 2% from its Sept. 2 closing record, headwinds remain for equities, including a surge in coronavirus cases that could lead to fresh government lockdowns, with total U.S. cases approaching 10 million.

A fiscal stimulus package to combat the economic damage done by the coronavirus is also less likely to be broad. While U.S. Senate Majority Leader Mitch McConnell last week indicated he desired a bill by the end of the year, he said on Friday that economic statistics show Congress should enact a smaller plan.

 

U.S. stock futures higher after Biden election win
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (16)
Fabrice Lange
Fabrice Lange Nov 09, 2020 2:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
https://www.cnbc.com/2020/11/03/are-republicans-or-democrats-better-for-the-stock-market.html
robert morris
XcaliberTrading Nov 09, 2020 2:52AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump decides on stimulus plans now. Mitch McConnell listens to Trump not Biden.
robert morris
XcaliberTrading Nov 09, 2020 2:51AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Republican senate leader Mitch mcConnell will not agree to a Democratic stimulus bill. He will only support Trump's ideas. Trump will decide this no matter if he is in or out of office. He is the Republican power now. He calls them and guides them to prevent Biden and Pelosi from destroying the United States.
Yelen Shim
Yelen Shim Nov 09, 2020 2:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Time for the stimulus now.
Simone Dozza
Simone Dozza Nov 09, 2020 12:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Biden won and no legal action can change that, but can delay his plan... so COVID is the real catalyst, only matter of time and markets will realize it
robert morris
XcaliberTrading Nov 09, 2020 12:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Biden is illegitimate. The amount of illegal activity it took to plant him was insane. Ironic. Biden is a puppet. The Republican held senate will road block him on every turn at Trump's will. Trump still leads them.
Slab Buster
Slab Buster Nov 09, 2020 12:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stocks are bloated. Sell everyhting and go 100% cash until we see who ends up in the white house after all the dust settles with lawsuits and supreme court rulings. No need to thank me later for saving you from a 30-40% loss just hold out and wait for the next great buying opportunity when it crashes
Paul Garcia
Paul Garcia Nov 09, 2020 12:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The dust settled. Doesn’t matter what trump tries to pull, Biden is the new President.
Ludovic Raymond
Ludovic Raymond Nov 09, 2020 12:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Just like during the past spring, exactly. Just look at the subsequent rebound
Michael Redden
Michael Redden Nov 08, 2020 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
all the big whale dems buying back in who crashed the market on purpose to get trump out. duh, that was the whole campaign + baloney-19
ali ma
ali ma Nov 08, 2020 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
you are so right..
ali ma
ali ma Nov 08, 2020 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Warren Buffet is one of them
Slab Buster
Slab Buster Nov 08, 2020 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nah...the market is rallying in hopes Trump will win in the end after supreme court ruling. Once the markets see for sure Biden is president the narkets will crash 30%
Dave Vanderbloemen
Dave Vanderbloemen Nov 08, 2020 9:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Buden hasnt won
James Marshall
James Marshall Nov 08, 2020 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the world knows Trump will win. Look at how calm Trump has been this entire time. He has always been steps ahead. Art of War.
Adam Mohr
Adam Mohr Nov 08, 2020 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Im a Cpa and have worked in audit..there is a very high level of fraud occuring in my opinion..The mail in ballots should have nevef been allowed..Regardless to much evidence and to many things dont add up..a cery hogh inxentive with a history or corrupt peipke in charge..Very good point about trump though
Moi Meme
Moi Meme Nov 08, 2020 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Adam Mohr mail in ballots work. Your opinion is not based on facts. My state has done universal mail ballots for years. No problems. Plus they have a clear paper trail. Stop whining
Slab Buster
Slab Buster Nov 08, 2020 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Daniel Hodel Biden is the one who is headed for prison for all his corruption in China and Ukraine
Ludovic Raymond
Ludovic Raymond Nov 08, 2020 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Adam Mohr Does CPA come with conspiracy theory during the ethics exam?!
Alex Bon
Alex Bon Nov 08, 2020 8:24PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The same is for Trump when he was a President.  Some of his policies inherited from previous Presidents.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email