New York (AFP)

Maintaining the same momentum as since the start of the week, the New York Stock Exchange appreciated sharply on Thursday, enthusiastically welcoming the possibility of a presidency of Democrat Joe Biden in the United States and a Senate dominated by Republicans .

Its flagship index, the Dow Jones Industrial Average, rose 1.95% to 28,390.18 points.

The Nasdaq, with strong technological coloring, took 2.59% to 11,890.93 points and the extended S&P 500 index gained 1.95% to 3,510.45 points.

"Market players seem to disregard the still uncertain outcome of the presidential election, preferring to focus on the possible consequences of a divided Congress," commented analysts at Charles Schwab.

If the final results in some key states continued to be delayed, the Democratic candidate appeared to be on the way to winning the presidential election.

President Donald Trump has for his part launched several legal remedies to challenge the counting operations.

On the parliamentary front, the Senate should remain under the control of the Republicans and the House of Representatives under that of the Democrats, even if the final results were still far from being known.

The prospect of a split in Congress was in any case the happiness of investors, who saw the risk of changes deemed too radical by an entirely Democratic government to fade away.

For Sam Stovall of CFRA, Wall Street should not "be hit by large tax increases for large companies or for individuals who earn more than $ 400,000 per year or more", as provided by the program of Mr. Biden.

A significant increase in the tax on stock market profits also seemed to be on the way.

It remains to be seen whether a divided Congress will succeed in agreeing on a new stimulus package for businesses and households hit by the coronavirus crisis, which it failed to do before the November 3 poll.

"I think it will be," ventures Mr. Stovall.

"It did not take place before the election, because neither side wanted to give the other a reason to brag," he continues.

"But interest rates are going to stay low for a long time and the Federal Reserve is going to need help from Congress. There will be some help even if it won't be as big as the Democrats hoped," concludes the expert.

© 2020 AFP