Uncertainty continues taking over the markets due to the fact that the results of the US elections are not clear yet. So far, it seems that Democratic Candidate Joe Biden leads the race, as he appears to be the victor in certain key swing states, such as Michigan and Wisconsin. This contradicts the election night scenario in which Trump was leading in the Electoral College.
Despite some key states continuing to count their ballots, which is the case in Georgia, Pennsylvania, and Arizona, many analysts are already betting for Biden's victory. Trump already claimed states that are officially undefined, such as Pennsylvania, announcing his victory and putting into question the counting process and suggesting that a fraud is being perpetrated against him. The Democratic candidate announced that his team believes they're going to win the election, choosing to remain cautious until there is a clearer scenario.
Meanwhile, coronavirus cases kept surging across the country, adding around 100,000 reported cases during Election Day and bringing up the number of total reported cases to 9,802,374. So far 239,842 deaths linked to the disease have been reported. Cases are also surging in the rest of the world, which has pushed some countries to consider the idea of imposing restrictions in order to curb the spread of the virus.
The US stock markets were bullish yesterday, closing mainly in the positive territory despite the rising uncertainty. The Dow Jones Industrial Average went up by 1.34 percent during the session, closing at the 27,847.66 level, followed by the S&P 500, gaining 2.20 percent, and closing the session at the 3,443.44 level. In the same way, the NASDAQ 100 went up by 4.41 percent during the session, closing at the 11,777.02 level, followed by the NYSE Composite, which gained 0.79 percent during the session and closed at the 12,978.95 level.