Stocks, bond yields and bitcoin surge as Trump closes in on U.S. election victory

An employee walks past the screens showing ongoing U.S. presidential election results, left, and a foreign exchange rate between the U.S. dollar and the Japanese yen, at a foreign exchange dealing company Wednesday, Nov. 6, 2024, in Tokyo.HONG KONG --

Ahead of U.S. markets opening Wednesday, the future for the S&P 500 gained 1.23% and the future for the Dow Jones Industrial Average was up 1.02%. The Nasdaq composite future was 1.43% higher. In early European trading, Germany’s DAX climbed 1.3% to 19,503.40, while the CAC 40 in Paris advanced 1.9% to 7,550.36. Britain’s FTSE 100 was up 1.4% at 8,285.06.

Since 1945, the S&P 500 has risen in 73% of the years where a Democrat was president and 70% of the years when a Republican was the nation’s chief executive, according to Sam Stovall, chief investment strategist at CFRA.

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