Nigel Green, the CEO of global financial services and advisory firm deVere Group, is bullish on president-elect Joe Biden delivering a boost to global stock markets and the U.S. and world economy.

“Although a Biden win was pretty much priced-in by the markets, his victory will eliminate uncertainty—which they loathe—and they will rally further as a result, Green the founder of the Zurich-based firm, said in a statement.

Green said investors will dismiss possible legal challenges by President Donald Trump and instead focus on the renewed certainty and stability that a Biden White House will bring, including in key areas such as trade with China, keeping the U.S. in the World Health Organization, rejoining the Paris climate agreement, and abiding by other international agreements and long-standing international allies.

Biden was declared the winner in the electoral race by media organizations after winning more than 74 million votes, the most ever for a U.S. presidential candidate, in the bitterly contested race. Trump has not conceded.

Securing a fiscal stimulus is key to bolstering the economy and Biden will need to work with the Republican-led Senate to do so, Green said, noting that it might be challenging to get $3 trillion. “This will buoy the markets and would have investors think about a broader-based economic recovery, rather than a narrower, tech-heavy one,” he said.

House Democrats had pressed for a $2.4 trillion package before the election, but Senate Republicans rejected it and put forth a $500 billion relief plan.

The final makeup of the Senate is unsettled, as there are two runoff races in Georgia in January that will determine who controls the Senate.

“As the world’s largest economy, sustainable, long-term growth in the U.S. will have a positive ripple effect for the world economy,” Green said, noting that the reduced chance of “massive” fiscal stimulus also will put pressure on the Federal Reserve to further inject liquidity.

Even without full Senate support, the Biden win means less risk of regulation and higher corporate and personal taxes, which will give more oxygen to the markets and economy, Green said. The sectors that will benefit include renewable energy, industrials and infrastructure and small caps, he said.

Green, However, warned that Biden not only will need to work with the Senate, but heal a divided country. “The world is looking at America. It needs to lead the world economy in a positive, forward-thinking and smartly way," he said.

“If it doesn’t, we can expect American economic dominance to ultimately be replaced by an emerging and fast-growing Asia,” he said.