Oil prices and stock indexes in the U.S. rose despite political uncertainty

2020-11-05 12:03:57
Machine translation
Oil prices and stock indexes in the U.S. rose despite political uncertainty

Voltage caused by the summing up of the elections the composition of Congress, the part of the Senate and the President of the United States did not affect the participants of the trading, which yesterday were actively buying the stock, showing confidence in the future recovery of the U.S. economy.

 

traders explain the optimism of the "blue wave" when the Democrats get the presidency and a majority in the Senate and Congress that will allow them to significantly change the tax investment and trade rules of the market.

 

US stocks are rising for the third consecutive session yesterday, added another 1.3% to 3.8%. The Dow Jones index rose 1.34%, the S&P 500 2.2% and the NASDAQ by 3.85%. For S&P 500 this was the biggest daily growth, from 5 June and for the NASDAQ since April 14.

 

As of morning on 5 November Biden has 264 voices, and the tramp – 214 of the 270 needed. However, in the headquarters of the trump already announced the filing of lawsuits in those States where it continues to count the votes received by mail.

 

oil Prices rose yesterday by 2% against growth of shares and on data from the US Department of energy on significant reduction of oil reserves in the country last week.

 

Yesterday, the January futures for Brent crude on London exchange ICE Futures initially jumped 4%, but later decreased, but in General, for the day grew by 1.9% to 40.45 $/barrel, while December futures for WTI crude oil on the new York NYMEX rose by 1.99% to 38,41 $/barrel.

 

Commercial oil stocks in the USA last week was reduced to 7,998 million barrels to a 7-month low, while gasoline inventories grew by 1,541 million barrels and oil reserves at the largest terminal in Koshu – on 936 thousand barrels to a 5 month high. Despite the increase in the number of working drilling rigs in the US 10 PCs to 221, oil production for the week decreased by 5.4% to 10.5 million barrels/day.

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