Other indices rose sharply as well, with the German DAX up 2% and the FTSE index trading 1.7% higher. The FTSE 100 index is up nearly 10% from October lows, while the DAX is 12% stronger, although the coronavirus lockdowns are really tough in Europe.
Media have already proclaimed Joe Biden as the next president. However, Trump is suing many swing states for alleged vote fraud. Indeed, there are many mysterious occurrences, such as dead people voting, more people voting than registered, kids voting, software glitches giving votes to Biden only, etc.
Whether you prefer Dems or Reps, the voting process must be clear and without any suspicious activity, so Trump has a right to investigate those suspicious occurrences.
Covid cases continue to rise very steeply, with the world registering more than 50 million confirmed cases, and US daily deaths have surpassed 1,000 for four days now. Nevertheless, investors are buying equities with both hands as more stimulus is supposedly coming. The question is - why even open the economies when the stock market loves the current scenario so much?
Later in the day, the ECB's and BoE chiefs will give their speeches, which might cause volatility. Apart from that, there is no major economic news on the agenda today.