BQuick On Nov. 5: Top 10 Stories In Under 10 Minutes
A man flies a kite on the Bund while buildings of Pudong’s Lujiazui financial district stand across the Huangpu River as the sun rises in Shanghai, China (Photographer: Qilai Shen/Bloomberg)

BQuick On Nov. 5: Top 10 Stories In Under 10 Minutes

This is a roundup of the day’s top stories in brief.

1. U.S. Stocks Rally For Fourth Straight Day...

Stocks rallied globally as investors rushed back into technology and health-care firms on bets that the U.S. election results will mean no major tax hikes or regulatory changes that would derail the sectors.

  • The S&P 500 jumped more than 1% for a fourth straight day and is headed for the best week since April.

  • The tech-heavy Nasdaq 100 surged another 2%, pushing its advance this week toward 9%.

  • Gold strengthened 1.4% to $1,929.79 an ounce.

Get your daily fix of global markets.

...As Biden Stands On The Brink Of Victory

Joe Biden stood on the brink of claiming the presidency from Donald Trump on Thursday, with a handful of states expecting to complete their vote counts despite Republicans opening legal fights to stop counting in at least two states.

  • Biden held 264 Electoral College votes out of the 270 needed to win the White House, according to the Associated Press. Trump has 214.

  • Biden needs only to win an additional outstanding state, such as Nevada, where he is narrowly leading, or Georgia, where his campaign believes mailed votes will push him over the top.

  • He also likely needs to hold Arizona, which the Associated Press has called in his favor but which the Trump campaign says it can still win.

  • A Biden win in Pennsylvania could also clinch the race.

Follow the final results of U.S. elections 2020 here.

Also read: Fed to Stay on Sidelines Amid Election Drama: Decision Day Guide

2. Sensex Erases 2020's Losses

India equity markets gained along with Asian peers even as the verdict of the U.S. Presidential elections hangs in the balance.

  • The S&P BSE Sensex ended 1.8% or 740 points higher at 41,355, wiping out year-to-date losses.

  • The NSE Nifty 50 index too ended 1.8% higher at 12,120.

  • The 50 stock index is 48 points away from turning positive for 2020.

Follow the day’s trading action here.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.