Wall Street rallies as voters hit the polls

Reuters

Wall Street rallies as voters hit the polls

2024 11월 5, 오후 9:12 GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>LIVE MARKETS-Wall Street rallies as voters hit the polls</title></head><body>

All three U.S. indexes rally more than 1%

All 11 S&P 500 sectors end positive; Cons Disc leads

Dollar down; gold up; crude up ~1%; bitcoin up >3%

U.S. 10-Year Treasury yield dips to ~4.29%

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WALL STREET RALLIES AS VOTERS HIT THE POLLS

U.S. stocks rallied on Tuesday, with the S&P 500 .SPX clawing back about half the ground it lost over the previous four sessions as election day arrived and investors looked forward to putting all the uncertainties of a too-close-to-call election behind them.

A broad and robust rally lifted all three major U.S. stock indexes sharply higher, and each of the 11 major sectors in S&P 500, led by consumer discretionary stocks .SPLRCD, ended the session in the green.

Stocks associated with the "Trump play," which investors believe would benefit from a Trump victory, were early outperformers:

For-profit prison operator Geo Group GEO.N gained 6.7%, Tesla TSLA.O rose 3.4%, the largest gain among the "magnificent seven" group of momentum stocks, all of which advanced on the day.

Crypto marketplace Coinbase COIN.O gained 4.1%.

But the granddaddy of all "Trump trades," Trump Media & Technology Group DJT.O ended the day down 1.2% after its shares whipsawed and the stock was halted for volatility multiple times throughout the session.

Beyond the noise, the latest polls from contentious battleground states show the candidates in a dead heat and the likelihood that of a protracted vote count - and no immediately clear winner - looms large.

On Wednesday, the Federal Reserve convenes for its two-day policy meeting, which is largely expected to culminate on Thursday with a 25 basis point reduction in the Fed funds target rate.

Here's your closing snapshot:

(Stephen Culp)

*****

FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:

BOFA INSTITUTIONAL CLIENTS GO ON A SELLING CHARGE - CLICK HERE

EVEN WITH A CLOUDY ELECTION OUTCOME, SKIES MAY CLEAR QUICKLY - WFII - CLICK HERE

THE ELECTION IS NO TIME FOR PORTFOLIO HEROICS - OR IS IT? - CLICK HERE

TUESDAY DATA DISTRACTION: SERVICES PMI ACCELERATES, TRADE GAP GAPES - CLICK HERE

WILL IT BE RED OR BLUE? ACTUALLY, IT'S ALL GREEN EARLY ON ELECTION DAY - CLICK HERE

S&P 500 INDEX: VOTING WITH ITS FEET? - CLICK HERE

U.S. ELECTION AND ITS IMPACT ON THE FED'S STEPS - CLICK HERE

IS BULLISH POSITIONING A RISK, GOING INTO US VOTE? - CLICK HERE

WHY EURO AREA INFLATION COULD STAY BELOW 2% FOR LONG - CLICK HERE

STOCKS HOLD THEIR BREATH AS AMERICA VOTES - CLICK HERE

EUROPEAN FUTURES STEADY AS ELECTION DAY ARRIVES - CLICK HERE

MARKETS BUCKLE UP FOR ELECTION DAY - CLICK HERE

Closing snapshot https://reut.rs/4fzRims

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Wall Street rallies as voters hit the polls

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