The article discusses the impact of the US election on the stock market, particularly in Canada. With the Democratic Party expected to control both houses of Congress and the presidency, investors are optimistic about increased stimulus spending and measures to curb the COVID-19 pandemic.
Key points from the article include:
- The TSX (Toronto Stock Exchange) is nearing a record high due to gains in cannabis, renewable energy, and other sectors.
- Cannabis stocks such as Canopy Growth Corp. and Aurora Cannabis Inc. have jumped significantly on expectations of legalization for recreational use.
- Renewable electric utilities like Boralex Inc. and Brookfield Renewable Partners LP are also performing well.
- Big Tech stocks in the US have fallen due to increased risk of antitrust scrutiny under a Democratic administration.
Overall, the article suggests that investors are optimistic about the potential economic benefits of a Democratic-controlled government in the US.
