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Home / Business / US stocks futures and dollar soar as Trump and Biden battle each other in intense presidential race | Currency news | Business and financial news

US stocks futures and dollar soar as Trump and Biden battle each other in intense presidential race | Currency news | Business and financial news



Joe Biden is arguing about Donald Trump
Joe Biden and Donald Trump speak during the first presidential debate at Case Western Reserve University and Cleveland Clinic in Cleveland, Ohio on September 29, 2020.

  • Futures for US stocks and the dollar surged as the tight race between Trump and Biden that investors were preparing for took place.
  • Futures on the tech-heavy Nasdaq 100 were among the top gainers, up about 3%, while Bitcoin and crude rose sharply.
  • Trade-sensitive currencies, like the Mexican peso and the Chinese yuan, fell, along with safe havens like gold and the Japanese yen.
  • Visit the Business Insider home page for more news.

U.S. futures and the dollar rose on Wednesday, as the near presidential race investors had come to expect was already underway, giving a boost to tech stocks, crude oil, and cryptocurrencies. .

At around 1

1:30 p.m. ET, there is still no clear leader in the presidential race between President Donald Trump and Democratic President Joe Biden as the results continue to be drawn. The polls are now closed or ending in most states, including a number of important battlefields. Florida was the first swing state to be called on for one of the two candidates.

The US futures indexes increased sharply. Futures on the tech-heavy Nasdaq 100 have risen by almost 3%, while the indices on the S&P 500, Dow Jones and the small-cap Russell 2000 index rose from 0.3 to 1.3%.

Other more risk-sensitive assets like oil and Bitcoin rose in value, while safer haven assets like gold and the Japanese yen burned.

Even as the race is imminent, volatility is still quite modest, as investors have long positioned that the results will take longer than election night to clear.

“As Donald Trump’s dark night appears to have staged a remarkable comeback, as polls across America show he had a good night. Market reaction has so far avoided the downside. Volatility of 2016, at least on the downside, Chris Beauchamp, head of market analysis at online brokerage firm IG.

“This impressive party rebound seen as pro-business has been positively rated by the markets, although a lot of work remains to be done.”

The dollar index rose 0.4%, on the back of profit margins against the yen, down 0.4% and the euro, down 0.5%.

Blue-chip stocks in Asia moved higher on the back of optimism in US markets. Japan’s Nikkei was the strongest performer, up 2% on the weak yen, while Seoul’s KOSPI rose 1%. The China and China sensitive indices are more muted. The Shanghai Composite was virtually unchanged for the day, as did the Australian S&P / ASX 200.

Here’s what’s happening in the most electoral sensitive markets:

Top 5 gainers

Asset Last price Percent change
Bitcoin $ 13,895 3.52%
Nasdaq 100 Futures 11,569 points 2.70%
WTI crude futures $ 38.52 per barrel 2.28%
Dollar / Mexican Peso MXN 40.55 2.12%
S&P 500 Futures 3,399 points 1.13%

Top 5 losers

Asset Last price Percent change
10 year treasury income 0.928% -7.70%
VIX Futures 31.2 pts -1.35%
Yellow 1,910.35 USD / ounce -0.48%
Monetary unit of the European Union $ 1,1713 -0.38%
Foreign Yuan / Dollar 6.7034 -0.32%


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