The final results of counting of votes on presidential elections in the United States has not yet been announced, but Joe Biden is close to victory. However, trump filed a lawsuit for a recount in key States. At the same time, at the last count, seats in the Senate equally divided between Republicans and Democrats, the latter retain the majority in the House of Representatives.
Major US stock indexes rose on Wednesday and continued rising in after-hours trading: S&P 500 rose 2.2%, with subsequent growth of 1.4%; the Dow Jones was up 1.34% and 1.12%, while the Nasdaq Composite index by 3.85% and 2,13% respectively.
Dramatically increased the stock of technology companies: Apple (AAPL) more than 4%, Amazon (AMZN) and Google (GOOG, GOOGL) is more than 6%, and the increase in the shares of Facebook (FB) has exceeded 8.3 percent.
The market reacted to the results of counting the majority of votes in the elections on 3 November. However, the final results are not yet declared as a record high turnout and a large proportion of the preliminary vote and send the ballots by mail (68%) counting is delayed.
According to recent reports, Joe Biden scored 264 votes, while trump 214, but to win you need 270 votes of the electoral College, which consists of 538 electors from the fifty States and Washington, DC.
The article “Biden is leading in the elections in the US, but counting on key States not completed” Marketinfo.pro wrote about the importance of voice advantages to the individual States to win the US presidential election.
According to available official figures, Biden received the majority of votes in such key States as California, new York, Michigan, Wisconsin, Washington and Virginia and is ahead in Minnesota and Colorado.
Trump won the majority in only two States with the highest percentage of votes: Texas and Florida and also in Ohio, Missouri, Indiana and South Carolina.
Although not all the votes were counted on the night from 3 to 4 November Donald trump tried to declare victory and stated that postal voting will be rigged. The 45th President of the United States said it intends to appeal to the Supreme court.
Campaign trump filed a lawsuit in the courts with a demand for recount of ballots in those States where a majority of the votes received Biden: in Michigan, Georgia, Pennsylvania and Wisconsin.
Officials have warned that litigation could delay the official announcement of the winner.
As for voting for seats in the Senate number of legislators has been divided, and in the House of representatives remained the majority for Democrats.
This division of power, regardless of who will head the White House will balance the influence of the two parties and make difficult serious policy changes.
“Even if Joe Biden wins the presidency, it seems that we will have a divided Congress, so the possibility of significant changes in the financial level is quite small, and that’s what today is estimated most of the market,” said David joy, chief market strategist at Ameriprise Financial in Boston.
At the same time, experts consider the uncertainty and the delay in the announcement of the election results as a negative factor for financial markets and the reason for the volatility. Betting on growth, they advocate a quick and final resolution of the presidential race, which will pave the way for adoption of the bill on the stimulus package for economic recovery.
Investors believe that large tech companies will face less antitrust risk in a divided Congress.
Shares of large pharmaceutical companies, Pfizer (PFE), Merck & Co (MRK) and Johnson & Johnson (JNJ) also rose as potentially the split in Congress is likely to protect the industry from large-scale reforms.
Both candidates in US presidents remain chances of a victory, but trump has urged Americans to vote at polling stations and the vote was taken, in turn, Biden, by contrast, said that in a pandemic it is better to vote by mail and the counting of votes continues.