US Democratic presidential nominee Joe Biden speaks about election results in Wilmington November 6, 2020. — Reuters pic
E-mini futures for the S&P 500 jumped 0.6 per cent today, signalling a positive start for US markets. “We view this is as a net positive for equity markets, particularly in this scenario given it puts the odds of higher taxes very low in the years to come,” he added.“While we remain positive over the intermediate term outlook and believe divided government reduces the chances of a bear case scenario playing out, we would refrain from unbridled enthusiasm at current levels,” Wilding said.
“In the end we think the US economy is still fairly fragile and growth’s slowing down,” Sherwood said. The United States saw a record number of new coronavirus infections last week, with the total number of cases nearing 10 million.