The most important indices in the US accumulated a 4-day rally marked by the elections and the tension produced by the unfinished results. Yesterday the DJI rose 1.95%, the S&P 500 1.96%, and the Nasdaq 100 2.56%, totaling weekly increases of 7.1%, 7.4%, and 9.3% respectively. Meanwhile, the race for the presidency is increasingly tense because four states have yet to deliver conclusive voting results, slowing down the report. In fact, Trump and his legal team are suing the states of Georgia and Pennsylvania for this reason, but the governors reported that despite the legal actions the count could take several days.

This uncertainty, and the partial victory that the published numbers reflect with respect to the Electoral College votes, has been exploited by investors, leading the technology, industry, and commodities sectors to lead a bullish momentum. What will happen with the Fed?

The Federal Open Market Committee stated that it would maintain the 0.25% rate in the short term, while the recovery gains more momentum as demand and oil price declines have not been as expected to increase rates. In addition, they insisted on the need for stimuli to be approved in order to sustain and amplify the recovery.

But watch out, because with what the post-election results show, Congress will once again be supremely divided, so the impasse in the negotiations could continue unchanged.

That is why we will have to keep an eye on the reports of changes in jobs in October and the unemployment rate that will come out today, because this will continue to contribute to the vision of how the landscape is doing, while we wait for more concrete results on the elections. Other must-knows:

• Qualcomm had a significant increase yesterday after reporting profits well above expectations. Additionally, Morgan Stanley raised the company’s target price and its shares grew 13%.
• Uber reported that its travel business is having a much slower recovery than expected, although Uber Eats’ business is rebounding. It also expects demand in Europe to slow down now that lockdowns are back. After the announcement, Uber dropped 1%.
• Visa was sued by the U.S. Department of Justice after wanting to acquire fintech company Plaid (related to PayPal, Arcom, among others) for $5 billion, accusing it of alleged monopolistic conduct. Evidently, the company disagreed and gained 2% after the announcement.
• It is possible that Airbnb will make public the registration of its IPO next week, so be careful because one of the most important public offerings of the year could be launched in December.
• The lifting of restrictions to cannabis sales in 5 states of the US, during this week, has led large companies based on the commercialization of this product, to grow rapidly: Aurora Cannabis rose 30%.