More than 100 million early ballots were cast for U.S. elections on Tuesday, which is expected to be a record turnout, according to the U.S. Election Project. National polls show Biden, the Democratic nominee, leading President Trump in the polls, but the swing states are too close to call for Trump to win the 270 votes he needs. In an interview with Fox News on election Day, Mr Trump said he believed he had a “solid chance” of winning another four years in the White House and issued a dire warning about the prospects of Democrats taking control of both houses of Congress.
Tuesday is election Day in the United States, and millions of voters are expected to flock to polling places across the country to cast their ballots for Either President Donald Trump or The Democratic nominee Joe Biden.
In effect, Americans will vote on how they want their state’s representatives in the electoral college to decide who will be President starting next January. The 538 electors are divided according to the populations of the 50 states and the District of Columbia.
A presidential candidate must have an absolute majority of at least 270 electoral votes to win. California (55 votes), Texas (38), New York and Florida (29 each), Illinois and Pennsylvania (20 each) have the most electoral votes.
Biden leads in national polls, but The incumbent President Trump is tied with Biden in enough swing states to possibly scrape together the 270 electoral college votes needed to retain the presidency. He unexpectedly won the presidency in 2016.
Before Tuesday’s vote, Biden led President Trump in national polls. An NBC/Wall Street Journal poll on Sunday found the former vice President with 52 percent of registered voters, compared with 42 percent for the President.
More than 100 million early votes have been cast for the U.S. election, according to the U.S. Election Project. Texas and Hawaii have already surpassed their 2016 totals, reaching 110% of the total.
According to the United States Elections Project, approximately 60 million voters have mailed their ballots due to the Novel Coronavirus pandemic. The influx of postal votes has raised concerns that the election results may be delayed.
More than 99 million Americans voted early, not only because they feared waiting in line on Election Day in the event of a coronavirus pandemic, but also because of the extraordinary enthusiasm that followed such a polarizing campaign.
According to the US Election Project, early voting has surpassed 72% of the 2016 vote total, a record. Experts predict 160 million people will vote, up from 138 million four years ago.
Investors are also watching key Senate elections to see whether Democrats can take control of both houses of Congress, creating a “blue wave”. Big policy shifts, including further fiscal stimulus, depend on which party has majority control.
Appearing on Fox and Friends on Election Day, President Trump expressed confidence in his re-election, saying he believed he had a “solid chance” of winning another four years in the White House, while insisting he would not declare victory early.
On Tuesday, as Americans made their way to the polls, Mr. Trump made a final pitch to the audience.
“We feel very good,” Trump said in the call. He referred to the large crowds in the recent events in Michigan as a positive sign. He later said he believed he had “a good chance of winning”.
Mr Trump campaigned tirelessly in the final period before November 3, holding numerous rallies on the same day. Mr. Biden, meanwhile, will make an appearance Tuesday in the hotly contested state of Pennsylvania on Election Day.
At a campaign stop in Pittsburgh on Monday, Mr Biden sounded confident, too: “I have a feeling, folks, that tomorrow we will be united in a big victory.”
Trump also had a message for undecided voters, focusing on the nation’s economic progress ahead of the novel Coronavirus pandemic.
Mr Trump also defended his decision to shut down the economy earlier this year, noting that many lives had been saved as a result. He was optimistic about the future, saying “we will rebuild again, and we will rebuild at a record pace.”
Trump also spoke about his opponent, warning that if Biden wins, he will not be able to stop the far left of the Democratic Party from coming to power.
“Joe’s going to have a hard time,” Trump said. “He’s not going to be able to deal with them.” He predicted that if Biden tries to exert control over his party, he could find himself out of a job.
“Biden will never call the shots, and if he does, he won’t be there for very long,” Trump said.
As cities across the country prepare for the turmoil that will follow the election results, Mr. Trump blamed Democrats for the danger. The left, he said, had become “radicalised” and their leaders had failed to control them.
“I think it’s very sad, partly because it’s in Democratic cities, Democratic cities,” Trump said. He mentioned Chicago, New York, Baltimore and other cities. “It’s because of weak leadership.”
Asked what would happen if Biden won and Democrats retained a majority in the House while taking control of the Senate, Trump offered a dire warning.
“If they win, we will never be the same country,” he said. He was referring specifically to Democratic threats to change Senate rules and expand the size of the Supreme Court to include more liberal justices.
“It would be a terrible thing if they cleaned up the courts,” Mr Trump said.
However, there is a good chance that there will be no results when the polls close On Tuesday night because postal votes are allowed to be counted in several key swing states and will continue to be sent in the coming days.
Mr Trump has expressed disappointment and has repeatedly said Americans should know their results on election day. He dismissed reports that Mr Trump would declare victory if he had a clear lead based on Tuesday night’s results, saying it was a “false report”.
The subject came up again in the interview Tuesday morning. Mr Trump again rejected the idea of a premature announcement, saying he would do so “only when he wins” and that there was “no reason to play games”.
The market: The dollar fell on bets that Biden would win. U.S. stocks rose
The dollar fell on Tuesday as risk appetite for betting that Democratic Vice President Joe Biden would win the U.S. presidential election and launch a massive new economic stimulus package increased and the dollar faced resistance above its near-term range.
Analysts believe biden’s election will push down the dollar as the former vice President is expected to spend heavily on economic stimulus and adopt a more liberal approach to trade, putting pressure on the dollar and boosting other currencies. If Democrats also control the U.S. Senate, spending could be even higher.
Win Thin, global head of fx strategy at Brown Brothers Harriman, said in a note: “The market seems to think a blue wave is highly likely today, implying a large fiscal stimulus and bond issuance in 2021.”
The dollar fell nearly 0.7 percent against a basket of currencies to 93.39, its lowest level on the day at 93.29. As the dollar fell, the euro jumped 0.61 percent to $1.1711 after hitting support at $1.1621 on Monday, a one-month low. The dollar fell 0.12 per cent to 104.58 yen.
CNBC’s Jim Cramer thinks stocks will fall no matter who wins the presidential election, and investors will have to “buy.”
“I know it sounds simplistic, but the market is that simple,” he said. “We always try to think of the market as some Kind of Einstein philosophy.”
Wall Street had a strong day as major indexes recovered some of the previous week’s losses.
“With the election finally approaching, investors who had previously sold on rumors may now be buying on news and, after falling nearly 10 percent last month, are finally buying on the dips again,” Jim Paulsen, chief investment strategist at Leuthold Group, told CNBC.
In the face of October’s wild winds, big speculators and other heavyweight investors have been rushing to buy on dips, but one group hasn’t: executives of U.S. public companies. Buying by these company insiders sent the right signal in March that the market was bottoming, but this time they are in no hurry to get in. Fewer than 380 executives bought their shares last month, the second-lowest level in at least two years, according to data compiled by the Washington Service.