US stock futures surge as Trump declares election victory
U.S. stock index futures soared Wednesday after Donald Trump claimed victory in the 2024 presidential election, with the Republicans also set to sweep the Senate and the House, News.Az reports citing Investing.
At 03:25 ET (08:25 GMT), Dow Jones Futures rose 970 points, or 2.3%, S&P 500 Futures rose 115 points, or 2%, and Nasdaq 100 Futures rose 340 points, or 1.7%.
Trump declares victory
Republican candidate Donald Trump declared himself the victor in the US presidential election earlier Wednesday, despite the race yet to be officially called, saying the win gives him a "powerful mandate" to enact his various economic policies.
Trump has already won several of the key battleground states, including North Carolina, Georgia and Pennsylvania, and one network, Fox News, has already called him the winner over Democrat Kamala Harris.
Republicans set to sweep the Senate, House
The Republican party won a majority in the Senate, and was seen on course to also win the House of Representatives.
A Republican sweep in Congress presents a much easier path for Trump to enact major policy changes. Trump is widely expected to enact more inflationary policies, given his largely protectionist stances on immigration and trade.
The dollar and Treasury yields shot up on this notion, with the greenback hitting a near four-month high.
A swift conclusion to the 2024 elections also presents the clearing of a major point of uncertainty for stock markets, given the turmoil that surrounded the conclusion of the 2020 presidential election.
Fed meeting in spotlight
Wall Street indexes rose sharply on Tuesday, recovering from recent losses on gains in technology stocks, with risk appetite boosted by the expectation of a rate cut by the Federal Reserve later this week.
At 03:25 ET (08:25 GMT), Dow Jones Futures rose 970 points, or 2.3%, S&P 500 Futures rose 115 points, or 2%, and Nasdaq 100 Futures rose 340 points, or 1.7%.
Trump declares victory
Republican candidate Donald Trump declared himself the victor in the US presidential election earlier Wednesday, despite the race yet to be officially called, saying the win gives him a "powerful mandate" to enact his various economic policies.
Trump has already won several of the key battleground states, including North Carolina, Georgia and Pennsylvania, and one network, Fox News, has already called him the winner over Democrat Kamala Harris.
Republicans set to sweep the Senate, House
The Republican party won a majority in the Senate, and was seen on course to also win the House of Representatives.
A Republican sweep in Congress presents a much easier path for Trump to enact major policy changes. Trump is widely expected to enact more inflationary policies, given his largely protectionist stances on immigration and trade.
The dollar and Treasury yields shot up on this notion, with the greenback hitting a near four-month high.
A swift conclusion to the 2024 elections also presents the clearing of a major point of uncertainty for stock markets, given the turmoil that surrounded the conclusion of the 2020 presidential election.
Fed meeting in spotlight
Wall Street indexes rose sharply on Tuesday, recovering from recent losses on gains in technology stocks, with risk appetite boosted by the expectation of a rate cut by the Federal Reserve later this week.
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