As crowds gather in the streets in cities across the nation to celebrate the call that Democratic presidential nominee Joe Biden will be the 46th President of the United States, investors also voiced happiness that Biden will be in the White House, Reuters reports.
“Biden is good news for the markets,” Christopher Stanton, chief investment officer at Sunrise Capital Partners, said on Saturday. “We’re all so tired of the whipsaw that came with the Trump tweets.”
While the Trump campaign and republicans plan on filing frivolous lawsuits to try to stop the inevitable, investors believe the election is over and they can plan financial strategies based on a Biden presidency.
A Biden presidency offers investors a future of stability, not one based on the whims and emotions of the person in the Oval Office, as Trump did while he pushed markets and companies by social media.
“Markets are going to like it because Biden is not going to go too far left,” said Jim Awad, senior managing director of Clearstead Advisors. “It’s going to be a centrist government, not a government by tweet.”