NZX to join Wall Street rally; US regulatory risk subsides

Thu, 05 Nov 2020

Local stocks are set to join a rally on Wall Street as investors weighed up whether the unclear outcome of the US elections will stall efforts to impose stiffer regulations on the likes of big tech companies.Analysts had predicted an easy win in the presidential election for challenger Joe Biden, but incumbent Donald Trump garnered an unexpected amount of support. Biden leads in two critical states, while Trump has threatened to challenge the outcome in the courts and claimed victory despite the votes still being counted.The Senate is poised to...

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