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Wednesday 4 November 2020: US equity markets rallied strongly as Americans headed to the polls, with gains accelerating in the final hour

Wednesday 4 November 2020: US equity markets rallied strongly as Americans headed to the polls, with gains accelerating in the final hour
Nov 3, 2020 · 4m 16s

US equity markets rallied strongly as Americans headed to the polls, with gains accelerating in the final hour of trading - Dow rallied +555-points or +2.06% and was briefly up...

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US equity markets rallied strongly as Americans headed to the polls, with gains accelerating in the final hour of trading - Dow rallied +555-points or +2.06% and was briefly up over >700-points. Walgreens Boots Alliance Inc (up +4.41%) and Goldman Sachs Group Inc (+4.06%) both gained more than >4% to be the leading Dow constituents. The S&P500 gained +1.78%, with the rise marking the second-best presidential Election Day performance for the broader index. Industrials (up +2.91%), Financials (+2.20%) and Consumer Discretionary (+2.03%) logging gains of over >2% and leading ten of the eleven primary sectors higher. Energy (down -0.75%) was the only sector to close in the red. Carnival Corp said its North American cruise brands will extend a pause in operations to 31 December from 1 December, with Norwegian Cruise Line Holdings Ltd announcing the same extended suspension on Monday (2 November).. Nasdaq +1.85%. The small capitalisation Russell 2000 index outperformed with a +2.91% gain.
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Author Morgans Financial Limited
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