New York stocks rise sharply Biden's dominance anticipation Buy orders for a wide range of stocks November 6 6:54
In the New York stock market on the 5th, the Dow Jones Industrial Average rose sharply in anticipation of the Democratic Party's former Vice President Joe Biden's dominance in the US presidential election.
In the market, there is a widespread view that it is difficult to take policies such as tax increases due to the continued "twist" that the Democratic Party does not become the majority in the parliament, which is positive for corporate activities and stock prices.
The Dow Jones Industrial Average closed on the 5th at $ 28,390,18, up $ 542.52 from the previous day.
In the US presidential election, Democratic Party Biden is approaching the 270 electors needed to win, and the market is placing buy orders for a wide range of stocks in anticipation of Biden's dominance.
Also, in the parliamentary elections held at the same time, if the number of Republicans continues to increase in the Senate, even if Mr. Biden becomes president, the state of "twist" will continue, and the tax increase for companies claimed by the Democratic Party will be implemented immediately. However, there are widespread views that it is positive for corporate activities and stock prices.
This week, when the presidential election took place, the Dow Jones Industrial Average has risen sharply for four consecutive days.
On the other hand, in the foreign exchange market, dollar selling and yen buying are progressing, and the yen exchange rate has risen to the low 103 yen level per dollar, the first level in about eight months.