Dow futures rise 350 points after Biden wins presidency as post-election rally continues

[brooklynite]

Source: CNBC

Futures on the Dow Jones Industrial Average rose 365 points, implying an opening gain of about 350 points on Monday. S&P 500 futures climbed 1.5% and Nasdaq 100 futures rose 2.2%.

The former vice president won after his projected victory in Pennsylvania as well as Nevada, according to NBC News projections on Saturday. The call came four days after Election Day and amid close counts in several battleground states.

Wall Street hoped the call would reduce the odds of a drawn-out election fight, even as Trump refused to concede. Many traders had put on bets for market volatility in November and were unwinding those positions, helping fuel a rally.

In the meantime, the chances of a “blue wave” that sweeps Democrats into the majority of both the Senate and the House have waned, meaning drastic policy changes such as tax hikes are less likely.

Read more: https://www.cnbc.com/2020/11/08/election-stock-market-futures-open-to-close-news.html

[doc03]

1. How can that be Trump said it would crash

[bucolic_frolic]

2. Nice how Wall Street can shrug off COVID Acceleration

But it's going to bite at some point

[2naSalit]

3. It will...

At least we have a chance at restructuring in a more favorable way for we the little people. May not be this coming year but there are mid terms that can make changes missed this election so we can finally move ahead... almost two decades late.

[PoindexterOglethorpe]

4. No surprise.

I've been reading for some months now that the business world is eager to be rid of Trump. They actually understand that the economy does far better under Democrats than under Republicans, despite the myth to the contrary.