Nov. 4 (UPI) — U.S. shares climbed sharply in morning buying and selling on the New York Inventory Alternate on Wednesday, as votes continued to be counted within the presidential election.

The Dow Jones Industrial Common improved greater than 550 factors after the opening bell. The Nasdaq Composite rose 400 factors or greater than 3.8%. The S&P 500 additionally sharply rose greater than 2.7% for practically 100 factors.

The election remained too near name in lots of states, with neither GOP President Donald Trump nor his Democratic challenger, former Vice President Joe Biden, garnering sufficient electoral votes for a victory by Wednesday morning.

Buying and selling in Japan, Britain and Germany had been all on the plus facet Wednesday.

“The large information for the markets proper now, no less than because it appears preliminary, is that there is not going to be a blue wave, which is mostly supportive for markets,” Mike Lewis, managing director of U.S. fairness money buying and selling at Barclays, stated. “The outlook going ahead for markets is that is going to be extra about coverage and the Fed than it should be about politics, which is an efficient factor for markets.”

The Federal Reserve started its two-day coverage assembly on Wednesday.