Wall Street Drifts Higher at Open as Election Looms Large; Dow up 60 Pts

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Investing.com — U.S. stock markets opened modestly higher on Friday, after the final presidential debate of the election season did little to change the big picture or force many people into rethinking how they want to trade the elections on November 3.

President Donald Trump’s more reserved and polite approach in Thursday’s debate failed to make a meaningful impact on undecided voters, according to snap polls after the debate, although it did allow him to score his points more effectively when attacking the record and policies of his Democratic opponent, Joe Biden. As such, prediction markets and polls still point to a Biden victory a week on Tuesday, with the odds still on the Democrats taking back the Senate in a ‘Blue Wave’. That scenario has underpinned some bullish bets this week, with many prepared to bet on a major stimulus package in the new year, skewed towards poorer consumers and towards a transition to cleaner energy.

By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 62 points, or 0.2%, at 28,426 points. The S&P 500 was also up 0.2%, while the NASDAQ Composite was underperforming with a 0.2% decline. That was due chiefly to Intel (NASDAQ:INTC) stock, which fell over 10% to its lowest in more than two months after releasing disappointing results on Thursday evening.