US stock futures surged with significant gains as markets opened on Wednesday, after Republican Donald Trump claimed victory in the presidential election.
According to CNBC, Dow Futures soared 1,100 points (2.65 per cent) as Trump nears presidential election win at 4.40 am ET.
At 3.35 am ET, Dow E-minis increased by 986 points (2.33 per cent), S&P 500 E-minis rose by 117.25 points (2.02 per cent), and Nasdaq 100 E-minis advanced by 337.25 points (1.66 per cent).
The futures trading indicated increases across major indices, with the Dow rising 2.2 per cent, the S&P 500 advancing two per cent, and the Nasdaq climbing 1.7 per cent.
Tesla shares surged in pre-market trading on the day after Trump, supported by Tesla’s CEO Elon Musk, claimed victory in the race.
Tesla’s stock rose 13 percent to $283.97 in after-hours trading, hours before Wall Street’s opening, following Trump’s praise of Musk during a celebratory speech at his campaign headquarters in Florida.
Gulf region stock markets also demonstrated positive movement during early trading on day. The S&P 500 futures reached unprecedented levels during Wednesday’s robust rally after Trump’s announcement of victory in the presidential race.
As electoral results began emerging, Trump-associated investments surged, alongside rising U.S. Treasury yields, record-breaking bitcoin values, and strengthening dollar performance.
“Markets absolutely crave certainty,” stated Dr David Allen, portfolio manager, Plato Global Alpha Fund, noting that a Trump victory was likely “priced in at the margins”.
Analysts predict that Trump’s proposed policies on restricted immigration, tax cuts, and broad tariffs could drive inflation and bond yields higher, while his tax and regulatory changes may benefit corporations.
