12.9 C
New York
Saturday, November 28, 2020

Treasuries Jump As Bulls Run Wild At Wall Street

The markets witnessed a bulls run just ahead of the US elections following last week’s rout at Wall Street. The shift happened due to investors transposing their portfolios the results of the US national elections’ results are awaited with abated breath. 

Treasuries and the dollar received a shot in the arm and US equity futures went up higher as initial tallies suggested the consequences of the American presidential elections than suggested by-polls. 

Key Highlights of Bulls Run

Yields of Benchmark Treasury oscillated wildly – dipping once below 0.8% after surpassing 0.9% minutes earlier. On the other hand, the dollar progressed the maximum since June after recovering from the earlier losses. The index S&P 500 Futures kept oscillating between gains and losses before receiving a shot in the arm while the Nasdaq’s dip by 100 points prompted a brief halt in trading. The Mexican Peso and offshore Yuan recoiled and gold too fell. S&P 500 futures chart closed a little higher by 1.2 percent after having 5.6 percent the previous week in what was the index’s poorest weekly performance since March. 

Stocks that led the index to climb up a few levels were the industrials and materials sectors as investors’ stake these areas would profit from the increased infrastructure expenses as vowed by Biden, should he preside over the White House. The tech-savvy index Nasdaq that began the session more than 1 one percent higher, dropped to 0.4 percent gain for a single day. Industry experts are of the opinion that elections could lead to a blue-colored victory where Democrats will assume power over the two houses. They further state that if the Democrats form the new government, it implies that more regulations could be introduced especially for tech giants such as Google and Facebook. 

In a different part of the globe, Alibaba Group Holding Limited, stumbled by 9.3% in Hong Kong. This is due to  the initial public offering of the Ant Group was halted by China, in which Alibaba has a stake of about one-third. On the other hand, mixed sentiments dominated Asian stocks with Japan outpacing while Australia lagged behind. 

US Stock Exchange after Elections

Needless to say, investors all across are bracing up for the election results following weeks of speculations that had a major impact on the overall market sentiments. Fast forward Tuesday, polls were indicative of the Democrat candidate ahead of his Republican counterpart, despite some cut-throat battle at a few states. 

In the words of Ian Lyngen, a strategist at BMO Capital Markets, primary prospects for an instant resolution to the presidential elections have given way to an extended process with regards to both the White House and Senate. Volatility is expected to continue for some more time until things become clear. Till then, let’s continue to wait for a little longer for the election outcome.

Kiara Dutta
Kiara Dutta comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

Latest news

How to Download from YouTube to MP4

Today’s generation is a lot dependent on YouTube as a source of entertainment. It is an obvious fact that people would want to download...

Thanksgiving Recipes – Express Thanks and Gratitude on a Platter

Thanksgiving is the perfect time and day to express your gratitude by preparing favorite dishes for your guests or your loved ones at home....

Best Firefox Themes Add-ons

There are several themes available in firefox for free to enhance and customize the browser's look. It is very easy to install these themes...

Best Firefox Extension for Students

One of the reasons for people using firefox is the number of extensions it offers. There are more than 1500 extensions available in firefox...

Best Firefox Extensions in 2020

The Firefox browser is known for its dedication to safeguarding user's privacy. This web browser is also famous for having the best firefox extensions....

Confused about What to Make this Thanksgiving? – Easy Vegan Recipe

No vegan thanksgiving recipe box is complete without a good lentil loaf – especially around the holidays. It’s the perfect savory meal with lentils,...

Why are Bears Fat? Answers to your Questions

We all have seen bears and are aware about their food consumption amount before they start hibernating. We always had questions like why are...

Read Also

The Stock Markets Seem To Like Biden

New York, November 9: The US stock markets on Sunday jumped higher by a few points as investors got an opportunity to respond to...

Hertz Launches Program Encouraging Citizens to Go and Vote Safely

New York, November 1: American service providers are all set to encourage citizens to go to the polls and exercise their voting rights as the...

Post a Record GDP Growth, US Braces Up For a Grave Slowdown

October 30, New York: The US Economy recovered the huge loss much during the summers, expanding at a rapid rate in the third quarter,...

Boeing To Lay off 7000 More Employees as Losses Soar

New York, October 29: The American Airline Industry continues to experience the heat of the coronavirus pandemic, which has left it incurring huge losses....
- Advertisement -


Please enter your comment!
Please enter your name here