News Formal

US Stocks, Dollar Rally as Trump Nears Victory: Markets Wrap

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 39 sec. here
  • 45 min. at publisher
  • 📊 Quality Score:
  • News: 169%
  • Publisher: 50%

Asia News

Pacific Rim,Top Asia,Pacific Rim

Asian stocks were set for a higher open following election-day gains in the US, as traders hunkered down awaiting results in a presidential race pitting divergent visions of global trade and the economy. Gauges of expected volatility crept up amid hedging by investors before an outcome that remained too close for pollsters to call.

-- Donald Trump’s rising presidential prospects rippled through global markets on Wednesday, with US stock futures rallying, Treasury yields jumping and the dollar surging the most in more than four years.

Hong Kong shares and the yuan weakened as investors factored in an increase in trade tensions. Eastern European currencies posted some of the biggest losses on speculation that the region may have to increase defense spending. Ukraine’s dollar-denominated sovereign bonds jumped. Once “we all know who’s the president, who runs Congress both in terms of Senate and the House, then markets can then move forward, so the risk premiums will come out,” said Colin Graham, head of multi-asset strategies at Robeco. “That’s what you’re seeing today.”If Trump gets confirmed as the next President, we see a continuation of the US equities rally. Our view has been that a number of investors are sitting on the sidelines and waiting for election uncertainty to be out of the way.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: U.S. futures rise as chip stocks rally after TSMC results; economic data in focusEuropean stocks gain, euro weak ahead of ECB, ‘Trump trade’ lifts U.S. dollar
Source: globeandmail - 🏆 5. / 92 Read more »

Sell Stocks If a Trump Win Drives a Rally, Citi Strategists SayUS stocks may be rallying ahead of a potential victory for Donald Trump in next week’s US election, but for strategists at Citigroup Inc., a clean sweep for the Republican party will be a signal to sell.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Tech leads stocks higher as oil prices retreat, China rally stallsThe focus is back on the ongoing debate over the economy and interest rates as headwinds ease.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Chinese stocks climb; dollar steady before US inflation testAsian stocks got a lift on Thursday from Chinese stocks as China's central bank kicked off its 500 billion yuan facility to spur capital markets, while the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »