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 top 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 12 months within the Trump Commerce — or when buyers traded in response to a doable second Trump administration. Nonetheless, current polls present that Trump and Vice President Kamala Harris are neck-and-neck.
A number of polls printed over the weekend confirmed Harris gaining floor on Trump, together with in battleground states corresponding to North Carolina and Georgia. And a brand new ballot from famed Iowa pollster Ann Selzer printed by the Des Moines Register confirmed her forward of Trump by three factors in Iowa, a Trump-friendly state.
In keeping with 538’s polling common, Harris wins 50 instances out of 100, whereas Trump wins 49 instances out of 100. Others, corresponding to Resolution Desk HQ and The Hill’s averages, present that Trump has a 54% probability of profitable the election, in comparison with Harris’ 46%.
Trump Media inventory surges 15%
Trump Media and Expertise 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 Fact 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 cellular promoting firm linked to Trump, had been up 7% within the morning buying and selling, regardless of its chief monetary officer asserting he could 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 Laptop 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 Laptop (SMCI), which faces the specter of delisting from the Nasdaq, is predicted to report earnings after the closing bell.
— Rocio Fabbro contributed to this text.
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