Stock futures rise after Biden victory   

Nov 9 (Lagos) - US stock futures rose sharply after Joe Biden was declared to be the projected winner of the US Presidential elections.

Crude oil futures up 2.96% in New York. 

Stock markets in Asia are very strong today.  Japan's NEKKEI is up 2.12% at the time of writing this article.

China's Shanghai Composite up 1.7%

Dow futures up 200 points, NASDAQ up 2.28%.

Some important results this week in the US market. 

We would expect Nigerian Stock Exchange to be very strong today although the quarterly result of bell weather stock DANGCEM disappointed. The close on Friday was powerful with banks leading in terms of value traded. Stocks like TRANSCORP , AIICO and CILEASING recovered recent losses. While the S&P500 added more than 7% last week, Nigerian Stock Exchange saw its best week in more than year. We expect recovery this week for the constant losses and pain of the previous 3 years. 

On the coronavirus - The United States is about to have 10 million cases. There are lockdowns in most of Europe. India is 8.5 million cases. 

reporting for on Monday, Nov 9 2020 from Lagos, Nigeria

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