US Futures, European Stocks Rally Post-Trump Victory While Crude Oil And Gold Decline - Global Markets Today While US Slept

On Wednesday, November 6th, U.S. markets closed at record highs as Donald Trump won the 2024 presidential election. Investors anticipated lower taxes, deregulation, and Trump’s active stance on economic matters. The Dow, S&P 500, and Nasdaq surged, while bitcoin also reached new highs.

Tesla shares surged, fueled by CEO Elon Musk’s endorsement of Trump, alongside gains in Trump Media & Technology Group. Treasury yields rose amid expectations that higher tariffs could drive up inflation and expand the U.S. deficit.

According to economic data, U.S. mortgage applications dropped 10.8% last week, while crude oil inventories rose by 2.149 million barrels, exceeding the forecast of 1.8 million.

Most S&P 500 sectors closed higher, led by consumer discretionary, industrials, and financials, while consumer staples and real estate lagged.

The Dow Jones Industrial Average gained 3,57% to close at 43,729.93, the S&P 500 rose 2.53% to 5,929.04, and the Nasdaq Composite soared 2.95% to finish at 18,983.47.

Asia Markets Today

• On Thursday, Japan’s Nikkei 225 declined 0.09% and ended the session at 39,394.00, led by losses in the Fishery, Marine Transport, and Food sectors.
• Australia’s S&P/ASX 200 rose 0.33% and ended the day at 8,226.30, led by gains in the Energy, Industrials and Financials sectors.
• India’s Nifty 50 traded lower by 1.18% at 24,194.60 and Nifty 500 was down 1.02% at 22,796.95, losses in the Metals, Power and Real Estate sectors.
• China’s Shanghai Composite gained 2.57% to close at 3,470.66, and the Shenzhen CSI 300 soared 3.02%, finishing the day at 4,145.70.
• Hong Kong’s Hang Seng rose 2.02% and closed the session at 20,953.34.

Eurozone at 05.45 AM ET

• The European STOXX 50 index was up 0.67%.
• Germany’s DAX gained 1.27%.
• France’s CAC rose 0.58%.
• U.K.’s FTSE 100 traded higher by 0.08%.

Commodities at 05.45 AM ET

• Crude Oil WTI was trading lower by 0.88% at $71.06/bbl, and Brent was down 0.71% at $74.41/bbl.
• Natural Gas slid 0.07% to $2.745
• Gold was trading lower by 0.08% at $2,674.70, Silver fell 0.29% to $31.245, and Copper gained 2.28% to $4.3430.

U.S. Futures at 05.45 AM ET

Dow futures climbed 0.22%, with S&P 500 futures up 0.19% and Nasdaq 100 futures rising 0.21%.

Forex at 05.45 AM ET

• The U.S. dollar index declined 0.19% to 104.89, the USD/JPY was down 0.40% to 154.00, and the USD/AUD fell 0.89% to 1.5086.
• Global stocks rose, led by optimism over potential U.S. fiscal expansion under Trump’s presidency and anticipated rate cuts from the Fed and other central banks. U.S. Treasury yields increased, while the dollar eased slightly after Wednesday’s surge.

Photo by Pavel Bobrovskiy via Shutterstock