Happy Friday everyone! The markets have been on a huge upswing this week after getting some preliminary election results in. As I write this Biden has 264 electoral votes to Trump's 214. Arizona and Nevada are still yet to be confirmed and they have Biden in the lead.
So why are the markets up so big? Well, more often than not- the market tends to go up after an election. The market's are also pricing in a massive COVID-19 stimulus package for 2021. This nice bounce in the market is also coming with over 100,000 new Covid cases daily in the US. Depending on what happens, the markets may be in for a reality check next week. Valuations on tech stocks are still above average in the short term, but long term I am still very bullish on technology-especially the semi-conductor area that will be making chips for 5g technologies.