European equity markets are trading higher this morning, with the German index up 0.40 per cent on the day.
Investors kept a cool head despite chaotic scenes from Washington DC overnight.
US President Trump never really had a chance of overturning the election results, but after last night´s events, more top Republicans are likely to turn their back on the outgoing President.
Markets reacted positively to news out of Georgia that Democrats gained control of the Senate. While a Blue Wave could pave the way for stricter regulations and tax hikes, investors try to see it from a positive side: Further stimulus measures are likely to follow and without a months-long stalemate.
Oil prices extended gains overnight following Saudi Arabia´s surprising move to cut production further.
While this is likely to support prices in the near-term, the rally will struggle to gain significant momentum from here as demand is set to weaken amid further lockdowns and a slower economic recovery.