With all votes counted, Joe Biden has won Wisconsin, giving him the state’s 10 electoral votes for a total of 248, the Wisconsin State Election Commission said On Wednesday. The state, which Mr. Trump won in 2016, is considered a must-win for both candidates. At least 159.8 million Americans are expected to vote in the 2020 presidential election, according to NBC News projections. The total number of votes cast in the presidential election is expected to be at a record high, and turnout among eligible citizens is expected to be the highest since 1900. U.S. stocks extended their gains quickly after the Wisconsin election commission said Biden won the state, with the Dow gaining nearly 820 points, or nearly 3.0 percent, and the Nasdaq gaining more than 4 percent.
Wisconsin Election Commission: Biden wins Wisconsin
A senior Election official in Wisconsin confirmed Wednesday that all votes in the state’s presidential election had been counted. NBC News hasn’t independently announced the winner.
“All the votes have been counted,” Meagan Wolfe, an executive with the Wisconsin election commission, said on NBC’s “Today” show.
Wolf added: “We have not seen any counties that have not posted their election results on their website.”
According to NBC News, Democratic presidential candidate Joe Biden leads incumbent Donald Trump by 20,697 votes.
Some 3.3 million votes have been counted in the state, ACCORDING to NBC News.
Biden now has 49.5 percent of the vote to Trump’s 48.8 percent.
The state, which Mr. Trump won in 2016, is considered a must-win for both candidates.
Moreover, With so far counted, Mr. Biden is expected to win Michigan. According to the latest Statistics from Fox News, Democratic presidential candidate Joe Biden led Republican Donald Trump (48.8 percent) by 0.9 percent in The state of Michigan. So far, 96 percent of the votes have been counted.
Market trend: SHORT – term U.S. stocks Latin American dollar staged a high diving
The dollar edged higher on Wednesday as Democrats looked unlikely to regain control of the Senate following Tuesday’s U.S. election, leading investors to unwind bets on a possible massive fiscal stimulus package.
On Wednesday, Both Mr. Trump and Mr. Biden faced narrow victories in a close presidential election. The Democrats’ so-called “blue wave” has not turned out as many expected, leaving Republicans likely to retain control of the U.S. Senate and oppose any big increase in stimulus spending.
“The difficulty is that you can’t even be sure what the outcome will be, but congress is likely to be divided,” said Edward Moya, senior market analyst at OANDA.
“The likelihood of such an outcome is that it would give the Fed more reasons to do more… You could see the dollar still fall, but not as quickly as the blue wave, “Moya said.
In intraday TRADING, the dollar index.DXY edged up 0.03 percent to 93.46 after hitting a one-month high of 94.31 before retreating sharply after hitting a session high.
Despite the uncertainty over the outcome of the U.S. election, risk appetite remains strong and rising stocks could limit the dollar’s gains on Wednesday.
Jonathan Davies, head of fx strategy at UBS, said: “We haven’t seen massive risk aversion so far, so I think this could be the template for what’s going on here.”
“So even if there are more signs of an extension, the experience so far does not mean that we will see big currency swings and a strong dollar,” he added.
U.S. stocks rose, led by technology stocks, even though the outcome of the presidential election has so far failed to produce a clear winner.
The Dow Jumped nearly 820 points or nearly 3.0%. The Standard & Poor’s 500 index rose 3.3 percent. The technology-heavy Nasdaq composite index rose 4.3% as investors returned to the market.
“I think the big news for the market right now is that, at least initially, there is not going to be a blue wave that is generally positive for the market,” said Mike Lewis, managing director of CASH trading for U.S. equities at Barclays. I think the market outlook going forward is going to have more to do with policy and the Fed than it does with politics, and that’s a good thing for the market.”
Futures contracts on the Dow Jones and the S&P 500 came under some pressure early Wednesday as President Trump tried to claim victory despite millions of legitimate votes still being counted.
“We are preparing a big celebration. We won everything, “Mr Trump said. “We’re going to the Supreme Court of the United States. We’re going to stop all the voting.”
“We don’t want them to find any votes at 4am and add them to the list,” he added.
Shares of major technology-related companies rose, with Amazon, Apple and Microsoft all gaining at least 3 percent. Facebook shares rose 7 per cent and Alphabet, the parent company of Google, rose more than 6 per cent.
Wall Street traders and investors have attributed the rally in tech stocks to a number of factors, including the sector’s continued steady returns and its appeal to safety in uncertain times. In addition, some see the republicans’ chances of retaining their Senate seats as a boon for tech stocks because a higher capital-gains tax in the Democratic-controlled Congress could put pressure on the fast-growing financial sector.
“It appears that investors may be happy with at least Republican control of the Senate and no tax increases because they know they have a ‘Fed Put’ if the pace of financial assistance slows,” Barry Bannister, director of equity strategy at Stifel, said in a report on Wednesday. That’s good for growth stocks in the short term.”
Bannister raised his target price for the S&P 500 to 3,800 from 3,100 in the spring of 2021, implying a gain of more than 10 percent from current levels.