About 35 minutes into trading, the Dow Jones Industrial Average was up 0.9 per cent at 30,655.16. ― Reuters pic
President-elect Joe Biden’s party was the declared winner in one of the races and narrowly ahead in the other race, boosting speculation a public works spending package could be enacted.The broad-based S&P 500 gained 0.2 per cent to 3,735.90, while the tech-rich Nasdaq Composite Index dropped 0.8 per cent to 12,722.47.
But markets appeared to take a fairly benign view of the results. Infrastructure stocks rallied, with Caterpillar up 5.0 per cent and United States Steel up 7.5 per cent.
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