Equities stay in a more upbeat mood throughout the day so far
S&P 500 futures are up 1.5% while Nasdaq futures are up 1.8% currently as we start to look towards North American trading. Meanwhile, European equities are also holding gains of over 1.5% across the board with the DAX seen up by 1.8% at the moment.
The market is feeling more upbeat as the curtains come down on the US election, but there are still some considerations for investors ahead of the year-end.
The Senate is back in session today and that will start to shift the focus back to stimulus talks as we are likely to hear from Mitch McConnell and possibly president elect, Joe Biden, some time during the week on his stimulus plans.
There's still no certainty on a deal in the lame duck session but the market will certainly pick up any clues on that as we hear from lawmakers over the coming days.
For now, election relief/euphoria is still part and parcel of the mood today. However, eventually we'll settle back on the narrative between the virus pandemic - which is worsening in the US and Europe in a semi-lockdown - and central bank easy money.
If stimulus aid isn't in the offing and there are more delays/complications, can the market keep the more upbeat mood into the year-end?
The Nasdaq is just a hop and a skip away from hitting another all-time high:
