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.

    RELATED ARTICLES

    billionaire

    Sam Bankman-Fried’s No Longer a Billionaire With $16 Billion Fortune Overnight Wipeout

    Sam Bankman-Fried, considered the J.P. Morgan of the crypto industry, tried to save the cryptocurrency...
    Businesswoman

    These Grant Programs Help Women And Minorities Grow Their Business

    Women and minority entrepreneurs may have been facing several barriers in business through the years,...
    Technology

    Wells Fargo Recruits Senior Tech Banker Gudofsky from Credit Suisse

    Bloomberg News reports that Wells Fargo & Co has recruited Brian Gudofsky from Credit Suisse...
    Penalty

    Wells Fargo Faces Consumer Watchdog Penalty Exceeding $1 Billion

    San Francisco-based financial services firm; Wells Fargo & Company is facing pressure to pay more...
    Coinbase

    CFO of Coinbase Sees Risk of Sustained Hitting in Crypto Rout

    Bloomberg News reports that Coinbase Global Inc, the biggest exchange for digital tokens, does not...
    Fed Chief Powell

    Fed Chief Powell Signals Rate Hikes to continue until inflation is controlled.

    Jerome Powell, the Federal Reserve chairman, left little doubt that he was prepared to push...
    Mero share

    Mero Share: Everything You Wanted to Know about It

    If you have kept track of Nepal's stock market, you must have seen that it...
    thesparkshop.inproductearbuds-for-gaming-low-latency-gaming-wireless-bluetooth-earbuds

    thesparkshop.in:product/earbuds-for-gaming-low-latency-gaming-wireless-bluetooth-earbuds: Learn More

    In the world of gaming, every millisecond counts. Whether in the thick of war or...
    sdmoviespoint2

    Binge-Worthy SDMoviesPoint2: Paradise for Movie Maniacs

    One website that provides free downloads of films and TV series in various languages and categories...
    Vegamovies in

    Tips and Tricks for Safe Viewing Movies On Vegamovies In

    Movie buffs are familiar with torrent websites that stream entertaining content, such as movies and...
    Igor Yusufov

    Igor Yusufov: The Minister and Reformer Who Found Ways to Cope with Large-Scale Challenges

    Igor Yusufov convinced the government and businesses to allocate substantial funds to his homeland’s energy...