Banking & Financial Institutions

Dow futures rise as part of post-election rally

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A post-election rally on the stock market appeared to be set to continue Monday as Dow futures surged on Sunday.

Projections from CNBC indicated that futures on the Dow were up 220 points by Sunday evening, indicating a gain of around 200 points as the trading floor opened Monday morning. Stocks on the down rose four days in a row last week, but dipped on Friday as Labor Department announced that unemployment had dropped to 6.9 percent nationally.

Analysts attributed last week’s rally to the potential of 2020’s election resulting in a GOP Senate majority with a Democratic presidency, a prospect which has historically resulted in gains for the markets.

Other stock futures including the Nasdaq and S&P 500 were also up and expected to gain Monday, according to CNBC.

The markets’ continued rise comes as uncertainty surrounds the presidential elections; all major news networks have projected that former Vice President Joe Biden (D), who leads in a number of key battleground states, will be the victor once the final vote tally is in.

President Trump and his allies have refused to concede so far and vowed legal challenges in a number of states including Pennsylvania, which was called for Biden by The Associated Press but continues to count mail-in ballots.

Tags Donald Trump dow futures Dow Jones Industrial Average Joe Biden Stock market

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