- The Dow Jones Industrial Average rose by as much as 423 points on Thursday.
- Investors wait for more results from the U.S. election.
- A divided Congress is very likely at this point.
Dow, S&P 500, Nasdaq Rise
A Divided Government Is Likely
Stephen Auth, chief investment officer for equities at Federated Hermes, says a divided government will be “a far happier outcome for the markets” than a Democratic sweep.
Auth explained that a divided government will be able to push through a substantial fiscal package while avoiding the “growth-killing tax hikes” that Democrats would have implemented had they gained full control of Congress. He said such an outcome will be bullish for stocks in 2021.
Joe Biden Is Very Close To Winning