Election result shows close battle, US stock futures up

US stock market futures are showing a high jump on Wednesday. As the US presidential election result is showing a close battle between two candidates: Donald Trump and Joe Biden. The election result has already rejected the clean sweep theory of Joe Biden, showing a close race.

S&P 500, US Tech 100 futures are showing a green signal. The futures of US30 are showing a volatile movement but mostly towards green. The only negative response is coming from the Dow Jones future. It is down by 300 points till now.  The US dollar has gained 0.7% within one day.

According to Brian Bethune, the chief economist, it is too early to say anything about the election impact on stock futures. He has mentioned that the outcome is tighter than people thought about it, but the result could be the same. If Joe Biden wins the election, the market will open flat on Wednesday and gradually moves towards green. There are some states like Arizona that have flipped in the 2020 election towards Joe Biden. The battle is getting more complex as the maps are filling with red and blue.

Max Gokhman, the head of the asset allocation of California, has mentioned that, if Republicans come into power, they will not show much interest regarding the stimulus package. Marketers and investors know it very well. Joe Biden has already promised to launch a huge aid to prevent a market collapse. His party was also in favor of fiscal stimulus during the debate. That’s why the market mood was in favor of Joe Biden as the stimulus is the only way to prevent a market crash.

According to Matt Sherwood, the head investment strategist has noted that the market may show volatility if Donald Trump gets the power of the senate. It can also turn towards a big collapse if the fiscal stimulus does not come after the Presidential Election 2020.