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Summary
- Currently, Joe Biden is leading towards victory with 264 electoral votes, 270 needed to win by a majority. Donald Trump is lagging behind Joe Biden with 50 votes, currently at 214 votes.
- Global markets are all charged up with the results so far. Dow Jones and S&P 500 notched up by 5.08% and 5.18% in the last three sessions.
- ASX 200 currently up by 0.87%, optimistic on the Joe Biden’s win
- Volatility is cooling off in financial markets even before the result, indicating a very high certainty of current votes, getting materialized into Joe Biden’s win.
- Battlegrounds like Georgia, North Carolina, Pennsylvania are yet to come up with figures.
Finally, the world is closer than ever to witness, probably the most important event for the world nowadays, i.e. outcome of the 59th quadrennial US presidential elections. With the current count of 264 electoral votes in favour of Joe Biden, the markets have probably decided its course of action.
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ASX is all charged up
On the Thursday’s open, ASX 200 is looking all charged up with a 0.87% gain, currently trading at 6114.6 as at 1:51 PM AEDT.
Other indices are also following the broader rally with S&P/ASX 200- Consumer Discretionary (ASX:XDJ) gaining 1.37% and S&P/ASX 200 Health Care (ASX:XHJ) notching up by a good 2.27%.
Some other indices that are on the run since opening are S&P/ASX 200 Information Technology (ASX:XIJ), up by 1.77% and S&P/ASX 200 Communication Services (ASX:XTJ) is up by 1.38%.
Wall street cheering up for “Blue Wave.”
The wall street is also seen optimistic on Joe Biden’s win, and all the major indices have shown an extended rally. In the current three days winning streak the Dow Jones futures have surged by 5.08%, w.r.t the current price of 27,849.64.
S&P500 futures also posted 5.18% in its three days winning streak.
Volatility is cooling off
The volatility of the financial markets, across the globe is colling down as the time for final result announcement is clicking closer. Current lead by Joe Biden seems to take him to the victory for sure.
For the Australian market, A-VIX helps to gauge the volatility, which is down by 6.8%. This is a bit unusual as volatility tends to decrease only after the uncertainty gets over. In simple words, the market is already confirming Joe Biden’s win prior to the formal announcement, considering his current count of 264 electoral votes. To touch the majority of 270 electoral votes and win the election, Joe Biden requires only six more votes.
The volatility in major markets like India, the US is also setting down prior to the result, on the back of the latest counting. The CBOE VIX, which measures the Volatility of S&P500, has dropped by a massive 16.8%. India VIX, measuring Nifty’s volatility also dropped by 4.2% in the last session.
Latest election update (as of 11:47 AM AEDT)
Joe Biden is leading the presidential run, garnering 264 electoral votes compared to 214 votes in favour of Donald Trump. Joe Biden is just six electoral votes away to register his presidential win. Counting in some of the major states are still going on, which may change the face of the election.
These states include Georgia, North Carolina, Pennsylvania having 16, 15 and 20 electoral votes respectively. Interestingly, in all these three states, Donald Trump is the leading candidate.
