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Democrats Lead in Georgia Senate Runoffs

A Democrat victory in the Georgia Senate race would mean Democrats control all three house of the U.S. government.

US CapitolIt seems that both Democratic candidates are set to win Georgia's Senate seats, which would give the Democrats a trifecta for the first time since 2009.

There are still thousands of votes to count, mainly from urban areas, but it seems that Democratic Candidates Raphael Warnock and John Ossoff prevailed over their Republican counterparts Kelly Loeffler and David Perdue. If confirmed, this would mean that Chuck Schumer would likely be the Senate Majority Leader.

The tensions between Trump's base and the Georgian Republican leadership may be the main cause behind this loss, since Trump has been claiming for the last two months that elections in the state were rigged in Biden's favor.

This comes ahead of the congressional electoral college certification, which is set to take place today and confirm President-Elect Joe Biden's November victory against President Donald Trump. Trump still denies he lost the presidential election and has said that the final decision rests in the hands of Vice President Mike Pence.

"If Vice President Mike Pence comes through for us, we will win the Presidency," posted Trump on his Twitter account, "The many States want to decertify the mistake they made in certifying incorrect and even fraudulent numbers in a process NOT approved by their State Legislatures (which it must be). Mike can send it back!"

Yesterday, the US stock markets mainly closed in positive territory. The Dow Jones Industrial Average gained 0.55 percent during the session, closing at the 30,391.60 level, followed by the S&P 500, which gained 0.71 percent and closed the session at the 3,726.86 level. Similarly, the NASDAQ 100 gained 0.85 percent during the session, closing at the 12,802.38 level, followed by the NYSE Composite, which gained 1.11 percent during the session and closed at the 14,536.53 level.

Ibeth Rivero
About Ibeth Rivero

Ibeth contributes daily market commentary in both English and Spanish (both of which she speaks fluently) and she also manages the DailyForex mobile app to ensure that traders around the world are getting important market updates in real time.

 

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