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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, U.S. stocks rallied on the presidential election day, with the Dow Jones Industrial Average rising 427 points (+1.02%) to 42,221, the S&P 500 up 70 points (+1.23%) to 5,782, and the Nasdaq 100 up 263 points (+1.32%) to 20,227.
Data from betting markets showed that Donald Trump's odds of winning improved on the election day.
Meanwhile, the Institute for Supply Management (ISM) services index rose to 56.0 in October, being up for three straight months.
Palantir Technologies (PLTR) soared 23.47%, becoming the top performer in the S&P 500. The data analytics firm reported better-than-expected quarterly earnings and raised its full-year revenue forecast.
Big-tech stocks also performed well, with Tesla (TSLA) gaining 3.54%, Nvidia (NVDA) up 2.84%, Meta Platforms (META) up 2.10%, and Amazon.com (AMZN) up 1.90%.
On the other hand, Celanese Corp (CE) plunged 26.32%, the worst performance among S&P 500 constituents. The chemical producer posted lower-than-expected quarterly results and cut its dividend.
Wynn Resorts (WYNN) fell 9.34%. Quarterly earnings of the resort-and-casino operator missed market expectations.
Meanwhile, The 10-Year U.S. Treasury yield slipped 2 basis points to 4.289%.
In Europe, the DAX 40 gained 0.57%, the CAC 40 climbed 0.48%, while the FTSE 100 was down 0.14%.
U.S. WTI crude-oil futures rebounded for a second session, adding $0.52 (+0.73%) to $71.99 a barrel.
Gold price showed further signs of stabilization, as it traded $7 higher to $2,744 an ounce.
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The U.S. dollar saw further weakness as the election took place, with the dollar index falling to 103.43.
EUR/USD advanced 49 pips to 1.0926. France's industrial production declined 0.9% month on month in September (vs -0.6% expected).
USD/JPY slipped a further 54 pips to 151.59.
GBP/USD added 73 pips to 1.3030.
AUD/USD climbed 52 pips to 0.6636. As expected, Australia's central bank kept its key interest rate unchanged at 4.35%.
USD/CHF dipped 10 pips to 0.8630.
USD/CAD fell 66 pips to 1.3835. Canada saw its trade deficit narrow to C$1.26 billion in September from C$1.47 billion in August.
Bitcoin tried to end its recent losing streak, bouncing as high as $70,557 in the session.
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In Asian trading hours, the U.S. dollar regained strength as vote counting showed that Donald Trump was leading in the election race. EUR/USD slid to 1.0770 and GBP/USD sank to 1.2890.
Meanwhile, USD/JPY jumped to 153.60.
Gold was broadly flat at $2,743.
Bitcoin bounced to $74,000.
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Final reading of HCOB services purchasing managers index for October is expected at 51.2 for the eurozone, 51.4 for Germany and 48.3 for France.
The eurozone's producer prices index is anticipated to drop 3.1% year-on-year in September.
Germany's factory orders are expected to be up 1.4% month-on-month in September.
U.K. S&P Global construction purchasing managers index is anticipated to be down to 55.5 in October.
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