Dow futures went up more than 300 points on Sunday to apparently set the stage for the post-election rally on the stock market to continue on Monday, CNBC reported.
CNBC also reported that other stock futures were also bolstered and expected to go up as well on Monday.
Last week the Dow increased four days in a row until declining on Friday, despite an announcement that unemployment fell to 6.9% nationally, according to The Hill.
Experts have said that the rally last week was due to an expected Democratic presidency, along with a Republican-controlled Senate, a combination which has historically resulted in increases in the markets.
“A Biden presidency with a Republican Senate would be unlikely to see any increase in taxes, which was arguably the biggest fear investors had about a Biden presidency,” Invesco global market strategist Brian Levitt said, according to CNBC. “And a Biden presidency could mean a return to a more traditional, predictable approach to trade policy, which would likely result in less volatile markets.”
Brian Freeman ✉
Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.
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