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Stocks Close Sharply Higher After Biden Gains Swing-State Votes

Alcral AG Asset Management
04/11/2020
  • Stocks Close Sharply Higher After Biden Gains Swing-State Votes 1/1

U.S. stocks surged Wednesday toward their biggest-ever postelection gain, led by a rally in technology shares, as investors appeared to coalesce around the idea of a divided U.S. government.

Although the outcome of the presidential election remained uncertain as crucial battleground states like Georgia, Michigan and Pennsylvania continued to tally votes, neither Republicans or Democrats received a clear mandate from voters that would preface broad policy changes, analysts and traders said. 

The broad S&P 500 index gained 2.2% as of the 4 p.m. close of trading on Wall Street, its best performance on the day after a U.S. presidential election on record. The Dow Jones Industrial Average added 367 points, or 1.3%. The tech-heavy Nasdaq Composite jumped even higher, gaining 3.9%. 

URL Original Article: https://www.wsj.com/articles/global-stock-markets-dow-update-11-04-2020-11604496219