Stocks seen buoyant, dollar likely to extend losses

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Stocks are expected to stay buoyant on Monday while the dollar is seen likely to extend its downward trend as Democrat Joe Biden won the U.S. presidential election in a move that analysts say would prop up risk assets.

FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus disease are reflected on a screen displaying stock prices outside a brokerage in Tokyo, Japan, March 17, 2020. REUTERS/Issei Kato

“This combination, of course, likely means a Biden presidency’s ambitions will be curtailed in a grid-locked political scene with very few landmark legislative changes being enacted by Congress,” said Tapas Strickland, a director of economics and markets at National Australia Bank. Analysts warn the road might get tougher from here as investors focus on Biden’s ability to expand fiscal stimulus and measures to reduce the spread of COVID-19.

 

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Don’t worry. Republicans will be at work tomorrow.

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