Shares rose Tuesday morning as buyers braced for the result of the presidential election. The Dow Jones Industrial Common was up 359 factors, or 0.8%, in mid-morning buying and selling. The S&P 500 rose about 0.8%, whereas the tech-heavy Nasdaq was up about 1%.
An index monitoring the greenback hit its lowest level in additional than a month on Monday morning and was hovering simply above that time on Tuesday. Ten-year treasury bonds are barely up.
The actions got here with the tip of the presidential election on the horizon — though it might take days for the result to be clear.
The election between Trump and Harris goes right down to the wire
Markets, believing former President Donald Trump was heading towards a victory, began partaking earlier this yr within the Trump Commerce — or when buyers traded in response to a doable second Trump administration. Nevertheless, latest polls present that Trump and Vice President Kamala Harris are neck-and-neck.
A number of polls revealed over the weekend confirmed Harris gaining floor on Trump, together with in battleground states reminiscent of North Carolina and Georgia. And a brand new ballot from famed Iowa pollster Ann Selzer revealed by the Des Moines Register confirmed her forward of Trump by three factors in Iowa, a Trump-friendly state.
In accordance with 538’s polling common, Harris wins 50 instances out of 100, whereas Trump wins 49 instances out of 100. Others, reminiscent of Resolution Desk HQ and The Hill’s averages, present that Trump has a 54% probability of successful the election, in comparison with Harris’ 46%.
Trump Media inventory surges 15%
Trump Media and Know-how Group (DJT) inventory surged virtually 15% in morning buying and selling. Shares of Trump Media, the corporate that owns former President Donald Trump’s social media web site Reality Social, had closed up greater than 12% on Monday. This week has marked a renewed bout of “pre-election euphoria” for Trump Media.
Shares of Phunware (PHUN), a cell promoting firm linked to Trump, have been up 7% within the morning buying and selling, regardless of its chief monetary officer saying he can be stepping down. The Austin, Texas-based firm has been tied to Trump since 2020, when it constructed the app for Trump’s presidential marketing campaign.
Palantir inventory soars, with Tremendous Micro Pc earnings up subsequent
Shares of Palantir Applied sciences (PLTR) climbed greater than 20% after posting better-than-expected earnings. Synthetic intelligence networking chip agency Astera Labs (ALAB) likewise delivered blowout earnings.
Tremendous Micro Pc (SMCI), which faces the specter of delisting from the Nasdaq, is anticipated to report earnings after the closing bell.
— Rocio Fabbro contributed to this text.
