Indices Rise in the USA Despite Election Uncertainty

Indices Rise in the USA Despite Election Uncertainty Indices rose in the USA despite the election uncertainty. Following Donald Trump and Joe Biden, who held the first live broadcast discussion before the presidential election, political uncertainty regarding the elections did not affect the indices. At its opening Wednesday, the Dow Jones index rose 1.35 percent to 27,823.67, while the S&P 500 index gained 1.06 percent to 3.3370.55 points, and the Nasdaq index reached 11,219.60 points, up 1.21 percent. The first live broadcast discussion of presidential candidates Donald Trump and Joe Biden took place yesterday evening before the 59th presidential election to be held in the USA on November 3. After the big match, the indices started the day with a rise, despite the political uncertainty regarding the elections and the increase in coronavirus cases. In the positive movement in the indices, the expectations and the macroeconomic data that were above the expectations for the incentive package planned to be applied for the economic effects of the coronavirus epidemic showed its effect. US Treasury Secretary Steven Mnuchin stated that he will meet with the US House of Representatives President Nancy Pelosi about the stimulus package planned to be implemented and stated that he is "hopeful" about the agreement. On the other hand, according to the data announced in the country today, private sector employment in the USA increased by 749 thousand people in September and was realized above market expectations. However, the US economy contracted less than expected in the second quarter of 2020. Accordingly, the country's economy shrank by 31.4 percent in the second quarter of the year. The market expectation for the revised GDP data was for a 31.7 percent contraction in the second quarter of the year. It was recorded that the country's GDP decreased by 32.9 percent in the second quarter according to the first preliminary data published in July, and 31.7 percent according to the second estimates published in August.