Dec 17 (Lagos) - NASDAQ and S&P500 hit record highs today in New York as investors position for President elect to take over in just over a months time.
Stocks of Electric Vehicles and technology sectors are leading the gains once again as the world is poised to shift away from ICU vehicles towards Electric vehicles. Shares of battery makers, electric charging stations providers are extremely hot at the moment.
It is expected that the new President will announce an electric vehicle future for the US just like China has announced that they expect 20% of all cars to be electric by 2025.
On top of this the US senate is proposing a $ 900 billion stimulus package which is likely to be rolled out very soon. This will provide excess liquidity in the markets for a substantial amount of time.
US Federal Reserve Chairman while speaking yesterday spoke about record low interest rates will 2023 which will lead to sustainable interest payments on the increased debt that the US is taking on to supply this stimulus to the economy.
reporting for easykobo.com on Thursday, Dec 17 2020 from Lagos, Nigeria