After slumping to five-week lows last week, the S&P 500 and the Nasdaq began November on a strong footing as the consistent lead for Democratic presidential nominee Biden in national opinion polls raised hopes of a bigger stimulus package after the election. Democrats are also favored to emerge from 14 hotly contested U.S. Senate races with full control of Congress in Tuesday's election, although final results from at least five of those contests may not be available for days, and in some cases, months. "Currently, the market is betting on a Biden win," said Christian Stocker, UniCredit's lead equity sector strategist.
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