President vs. Senate: New York stocks: Investors in buying mood despite open election results | message

—The Dow Jones rose sharply in Thursday trading and ultimately gained 1.95 percent to 28,390.51 points.

Despite the open outcome of the US presidential election, the US stock markets continued their recovery on Thursday. In addition to the election hangover, the monetary policy decisions of the US Federal Reserve were the focus of investors in later trading. The US Federal Reserve (Fed) made no changes to its already ultra-loose shortly after the presidential election Monetary policy in front. The key interest rate will remain in the extremely low range of 0 to 0.25 percent for the foreseeable future, and the billions in bond purchases to support the economy will continue as usual.

Focus on economic data

The productivity of the US economy rose less than forecast in the third quarter. The ratio of production and working hours increased by 4.9 percent on an annualized basis. Analysts had expected an average increase of 5.6 percent. Last week, the number of initial jobless claims was 751,000, around 7,000 fewer than in the previous week. Experts had only expected 735,000 new applications.

US election still tied

President Donald Trump’s Democratic challenger Joe Biden is only a few electoral votes missing for entry into the White House. However, the incumbent has already sent his lawyers with lawsuits against the further counting of votes in several states in order to prevent a defeat by legal means. In addition, there are increasing signs that everything will remain the same in the politically divided Congress: A republican Senate majority will in future be faced with a democratically dominated House of Representatives.

This not only reduces the likelihood of a new, trillion US dollar economic stimulus program against the effects of the corona pandemic. It would also hardly be possible for Biden to change the tax policy of his predecessor or to enforce stricter regulation of the domestic technology giants.

Finanzen.net / Dow Jones Newswires / dpa-AFX

Image sources: onairda / Shutterstock.com, Vacclav / Shutterstock.com

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