Wall Street advances as chances of Trump win rise
Main U.S. indexes end green: Dow leads, up ~0.5%
Energy leads S&P 500 sector gainers; Utilities weakest group
Dollar, crude slip; gold up; bitcoin surges >5% (>10% since Fri)
U.S. 10-Year Treasury yield rises to ~4.23%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET ADVANCES AS CHANCES OF TRUMP WIN RISE
Shares on Wall Street ended Monday on a positive note, adding to last Friday's rally, as investors priced in the possibility of a second term for Donald Trump as president after he survived an assassination attempt last Saturday.
Online betting site PredictIt showed bets of an election win at 67 cents for Trump, after the assassination attempt, up from Friday's 60 cents, with a victory for Democratic U.S. President Joe Biden at 26 cents.
Crypto stocks, gun stocks and shares of other companies that could benefit from a Donald Trump presidency jumped on Monday.
Crypto exchange Coinbase Global COIN.O and bitcoin miners Riot Platforms RIOT.O and Marathon Digital MARA.O surged over 10% each.
Shares of private prison operators Geo Group GEO.N and CoreCivic CXW.N each bounced about 8%. Both are likely gaining on the prospect of a Trump presidency as he has promised to crack down on illegal immigration, which could boost demand for detention centers.
"Investors think a less constrained Trump administration could double down on campaign pledges to restrict immigration, lower income taxes, and raise tariffs across the board," wrote Karl Schamotta, chief market strategist, at Corpay in Toronto, in a research note.
"(It's) a policy mix that might raise U.S. inflation and interest rates, worsen the country's fiscal position, and damage global trade flows, even as it supports a stronger dollar and higher valuations for large corporates."
Meanwhile, Federal Reserve Chair Jerome Powell remained non-committal on the timing and degree of rate cuts. He said the three U.S. inflation readings over the second quarter of this year do "add somewhat to confidence" that the pace of price increases is returning to the Fed's target in a sustainable fashion.
The U.S. rate futures market has slightly reduced the chances of a September cut to 89% from 94% last Friday, according to LSEG calculations, while slightly nudging up the July rate cut probability to 8.5%, from Friday's roughly 5%.
Here's a snapshot of the different asset classes across financial markets:
(Gertrude Chavez-Dreyfuss)
*****
FOR MONDAY'S EARLIER LIVE MARKETS POSTS:
STIFEL STICKS BY CALL FOR 10% CORRECTION - CLICK HERE
COULD US 10-YEAR YIELD GET BACK TO 5%? - CLICK HERE
EMPIRE STATE: NEW YORK FACTORY CONTRACTION DEEPENS - CLICK HERE
WALL STREET RISES ON OPTIMISM ABOUT POSSIBLE TRUMP WIN - CLICK HERE
DOW INDUSTRIALS LINED UP TO MAKE THE 40K LEAP? - CLICK HERE
GERMAN BOURSE IS EUROPE'S HIDDEN CHAMPION, DEUTSCHE BANK SAYS - CLICK HERE
SMIDs: TURNING WORDS INTO ACTION - CLICK HERE
EUROPEAN STOCKS FALL, LUXURY NAMES SLIDE - CLICK HERE
EUROPEAN FUTURES LOWER AS TRADERS ASSESS TRUMP SHOOTING -CLICK HERE
TRUMP SHOOTING RICOCHETS IN TREASURIES - CLICK HERE
US market closing snapshot https://tmsnrt.rs/467FhAZ
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
