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%.Women pass by a display board showing Chinese stock market movements on the U.S. presidential election day in Beijing, Wednesday, Nov. 6, 2024.
The dollar surged against both the Mexican peso and the Chinese yuan, two key trading partners expected to be significantly affected by tariff increases. It was also up against the yen and the euro.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.
“Positive outcomes for Harris are expected to boost Asian assets, while Trump gains may exert downward pressure,” Anderson Alves of ActivTrades said in a commentary.
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