World News – CA – U.S. Equity Futures Gain and Dollar Slip, as Millions of Americans Head to Presidential Election


Blue-chip U.S. indices are expected to rise on Tuesday, as stock futures rallied and the dollar eased, as U.S. voters began heading to the polls to elect a president, following one of the most controversial campaigns in recent memory for the White House race

U.S. futures on the Dow Jones, S&P 500 and Nasdaq 100 rose between 09% and 13%, suggesting an extension of gains posted on Monday, when the Dow Jones index rebounded by around 400 points , his biggest gain in a day in a month

Nearly 100 million people have already voted Polls show former Vice President Joe Biden maintains a comfortable lead over President Donald Trump as a whole, although the gap is narrower in some of the major states in the battlefield

« The Dow Jones, which climbed 400 points yesterday, is showing the exact same nervous trading that caused it to drop a hundred points last week. We don’t see this as a 400 point » confident in stocks « , but rather as a 400 points « too uncertain to continue selling, » said Jasper Lawler, London Capital Group strategist

« According to an NBC / Wall Street newspaper poll, a 10 point lead over Biden could have given investors a little more strength in their convictions »

European stock indices have rallied, despite the entry into force of a new wave of restrictions on mobility in Italy, where travel to and from the most affected areas and a series of curfews nocturnal came into force, and a terrorist attack in the Austrian capital of Vienna which left two dead and at least a dozen injured

The Stoxx 600 rose 12%, thanks to gains in « more cyclical sectors » such as basic resources, oil and gas and bank stocks, which tend to be criticized when risk aversion of investors recovering

Milan’s FTSE MIB index ignored tighter foreclosure restrictions across the country, rising 17%, while FTSE 100 rose 16% and Frankfurt DAX rose 14%

In Asia overnight, the Shanghai Composite and the Nikkei both closed 14% higher on the day

« The focus will undoubtedly be on the US election taking place today The first results should start to arrive tonight, with volatility expected in anticipation of this historic event, » analysts at broker IG said in a note

Yields on the 10-year U.S. Treasury bill remained virtually unchanged at around 0862% as the dollar fell against most currencies, both developed and emerging economies, reflecting the wider push towards riskier assets Tuesday

The dollar index fell 04%, under pressure from losses against the euro, the pound and the Swiss franc It is still close to its highest for a month, however The dollar has suffered its most big daily loss against the Australian dollar, which often serves as a proxy for Chinese trade The Australian dollar rose 06% on the day

Against the offshore Chinese yuan, the dollar was largely unchanged, while against the Mexican peso, it lost 11%

« Looking at the FX implications, we expect the first signs that the election tilts in Biden’s favor will put pressure on the dollar and see AUD and NOK as the biggest potential beneficiaries, » said ING strategist Francesco Pesole

Gold rose slightly, in part due to strong dollar weakness Price was last 01% around $ 1,894 20 an ounce, while silver rose 07% to $ 24 20 an ounce

The price of oil rose nearly 2%, driven in part by the weakness of the dollar, but also by investors reducing some of the bearish positions established in recent days which returned the value of a barrel crude at its lowest since May

Oil has lost almost a fifth of its value since late August alone, as repeated outbreaks of COVID-19, more recently in Europe, have seen increasingly tighter lockdown restrictions put in place A national lockdown takes effect across England, home to around 55 million people, on Thursday, and international travel will be banned

Saudi Aramco, the Saudi state-owned oil company and the world’s largest producer, posted a 45% drop in profits in the third quarter of the year, although the company maintained its dividend payments to shareholders

Brent crude futures were the bottom two 2% to $ 39.87 a barrel, while U.S. crude futures were up 27% to $ 3780 a barrel

Read more: Morgan Stanley’s senior multi-asset strategist says 3 assets don’t value a Democratic sweep – setting them up for big gains if this scenario unfolds

Stocks, US Presidential Election, 2020, foreclosure, stocks

News from around the world – CA – US stock futures gain and dollar slips, as million Americans are heading for the presidential election


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