Jim Cramer Says COVID Stocks Are Leading Post-Election Rally

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Stocks rose in intraday trading on Thursday with tech shares leading the gains as the results in Tuesday's U.S. elections suggested the potential for corporate tax hikes and tighter regulations had diminished.

So where do we stand with the election?

According to The Associated Press, former Vice President Joe Biden has 264 electoral college votes. President Donald Trump has 214 votes. 

The first candidate to 270 votes will be the next President of the United States. 

And, in case you missed it, the number of Americans filing for first-time unemployment benefits totaled 751,000 in the latest week, higher than forecasts, but down 758,000 during the prior week.

The Federal Reserve will issue a decision on interest rates later Thursday and no changes are expected from the central bank. Fed Chairman Jerome Powell likely would remain in his role under a Biden presidency.

WATCH: Everything Jim Cramer Is Watching in Markets Thursday

More of the latest on the 2020 Election: