The Dow jumped more than 100 points on the day as investors watched a second-round election in the US state of Georgia.
As of 21.48 GMT, the Dow Jones Industrial Average stood at 30,328.28 points, positive 104.39 points or 0.35%.
The Dow closed almost 400 points last night. It recorded the most collapse in nearly 10 weeks and was the first negative territory to close on the first trading day of the year since 2016 as investors worried about Georgia’s election results. Concerned that if Democrats win the election This will allow the party to have absolute power in both the White House, the Senate and the House of Representatives. This will make it easier to push forward the corporate income tax hike measures under the government of Joe Biden. And it will affect the performance of companies listed on Wall Street.
However, analysts said The Democrats’ victory would also help Biden’s government release more stimulus measures more quickly. Which will be a positive factor for the market
“Even if Democrats win the election this time It is not yet certain if there will be any major revisions or changes to tax policy. But the party could launch a new round of stimulus measures to mitigate the effects of COVID-19 and push for new infrastructure projects, ”said Mark Hackett, head of investment research at Nationwide.
Americans and the world are eyeing the second-round election in the US state of Georgia today. Which will have high stakes for Democrats and Republicans. It will decide which party can dominate the majority in the Senate.
The election is scheduled to close the trunk. And start counting the votes at 7:00 pm local time Or matches tomorrow morning at 7:00 AM Thai time
Republican President Donald Trump and US President Joe Biden From Democrats They traveled to Georgia yesterday. To campaign for that election
If Democrats win this election It will allow the party to have absolute power in both the White House, the Senate and the House of Representatives. And facilitating the issuance of US economic stimulus measures under the government of Biden. After being interrupted in the days of President Trump But at the same time It will make it easier for Democrats to push measures to raise corporate income tax. And it will affect the performance of companies listed on Wall Street.
Biden has a policy to raise taxes on the rich to help the poor. He will lift the tax cuts of President Trump. By raising corporate income tax rates to 28% from Trump’s current 35% reduction to 21%, Biden will also raise taxes on households earning more than $ 400,000. The tax hike is expected to save the government $ 4 trillion in 10 years, while Biden will increase the tax cut for the middle class. And provide more child support tax subsidies
Mrs. Kelly Lofleur and Republican David Purdue Crowned senator in Georgia If both are able to maintain their seats in this election It will allow Republicans to continue to dominate the majority in the Senate. With 52 votes to 48 votes
However, if Mrs. Lofleur And Mr. Purdew Lost to Raphael Warnock and Democratic nominee Joan Ossoff The Democrats will also be able to dominate the majority in the Senate. With 50 votes to 50 votes, including one vote from Mrs. Kamala Harris that the US Vice President Which will be able to vote as President of the Senate by office. To make a decision in the event that Senators have equal votes in any motion
The Georgia Electoral Commission is set to hold a second round of senators today. After no candidate received a majority in the election on 3 Nov 2020
Democrats have a chance to win the election of Georgia’s senators today. Biden was able to win the election in November of last year. It broke the Republican monopoly over a period of 20 years.
Meanwhile, the media has released transcripts of President Trump’s phone calls trying to put pressure on Mr Brad. Raffensperger Secretary of State of Georgia To turn the results of the election in that state to give Biden the lead in the Nov. 3 presidential election. Raffensperger had raised 11,779 votes to President Raffensperger. However, Raffensperger declined to do so.
The world also keeps an eye on the US Congress. The winner of the US presidential election will be announced tomorrow.
Congress will hold a joint meeting of the Senate and House of Representatives tomorrow to count the results of the presidential elections from the electorate. By Vice President Mike Pence as President of the Senate by office. Will chair such meeting And will announce the official vote counting results Those who receive at least 270 votes from the 538 electorate will be the new president. Before entering the swearing ceremony on January 20.
In the past, the presidential electoral vote counted by the congressional electorate had little to no public attention. This is because those who have lost the US presidential election will often admit defeat after the election. But not in this election As President Trump continues to try to block Biden declaring the winner of the election, Claiming that there was election fraud Even without evidence to confirm in any way
Recently, 11 US Senators from Republicans. Under the leadership of Texas Senator Ted Cruz. Has gathered to declare a stand against Biden’s guaranteed victory in the presidential election. He also called for the establishment of a committee to investigate allegations of defrauding the US presidential election. The senators are preparing to vote tomorrow at a joint session of Congress. Which will be counted from the official electoral committee
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