Markets cheer a Biden victory; What next?

November 30, 2020

Stocks and oil prices cheered the confirmation of Joe Biden’s victory which means a more generous stimulus package to be deployed as soon as possible. The recent rally also supported by more upbeat news on the coronavirus vaccine. Meanwhile, Donald Trump rejected the outcome of the U.S. election, mounting legal action against vote-counting in states where he lost.

Few notable financial market movements after the US election outcome: