Morning Report 4 Nov 20: US sharemarkets rallied on Tuesday

Investors hoped that a clear winner would emerge from the US presidential election and a contested result would be avoided. The lead for Democratic Party nominee Joe Biden in national opinion polls raised expectations for a decisive outcome and post-election stimulus package. Shares of Facebook (+1.5%), Amazon (+1.5%), Microsoft (+2%) and Apple (+1.5%) were all up. Walgreens Boots Alliance (+4.4%) and Goldman Sachs (+4.1%) shares both lifted. But US-listed shares of Alibaba tumbled 8.1% after China halted the IPO of Ant Group. The Dow Jones index finished up 555 points or 2.1%. The S&P500 index gained 1.8% -its second best presidential election day gain. The Nasdaq index climbed 203 points or 1.9%.    

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