The results of the US elections 2024 are pointing towards a victory for Trump. As the counting of votes is underway, former President Donald Trump has 267 electoral votes and Harris has 224 electoral votes, according to AP. Trump and Harris both require at least 270 electoral votes to win the presidency. The counting is
The US stock market futures are in green before the market opens on Wednesday, November 6. Dow futures are up over 1000 points while S&P 500 and Nasdaq Composite futures are up by 2% and 1.5% respectively.
Trump Media & Technology Group Corp. stock price is up by over 40%, while Tesla is quoting over 12%, in the pre-market trade on Wednesday.
The FTSE 100 rose over 1% on Wednesday as global markets closely watched US presidential election results.
Investors are paying attention to the balance of power in Congress, which might have an impact on future spending and tax plans, as well as the Federal Reserve’s latest policy decision.
Investors predict Trump’s victory in the US election, which might lead to the Fed concluding its rate-cutting cycle faster due to concerns about inflationary implications from Trump’s plans.
“Trump’s proposed policies promise relief, but in practice, they seem more geared toward keeping prices high than bringing them down. As long as tariffs and potential trade wars dominate the agenda, household budgets across America will remain under pressure. “The truth? Trump’s approach may be inflation’s fuel, not its extinguisher,” says Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organizations.
The Hang Seng fell on Wednesday due to Trump’s election victory, trade tensions, US Fed interest rate decision, and uncertainty over stimulus measures.
The German 10-year Bund yield dropped to 2.35%, contrasting with a rally in U.S. Treasury yields due to early election results indicating Trump’s increased likelihood of victory.
The British pound fell by over 1% due to a stronger dollar following early U.S. election results, reviving “Trump trades” with expectations of increased inflation and interest rates.