U.S. Stock Futures and Dollar Rise Amid Close Presidential Race; Treasury Yields, Oil Prices React
Mumbai, 05 Nov 2024 (Commoditiescontrol):U.S. stock futures and the dollar climbed in Asian markets as initial results from the tight U.S. presidential race left investors cautious. Republican Donald Trump secured eight states, while Democrat Kamala Harris claimed three plus Washington, D.C., according to Edison Research. Key battleground states remain undecided, prolonging market uncertainty.
Treasury yields rose, reflecting bets favoring Trump. Fed futures maintain expectations for a 25-basis-point rate cut. Analysts believe Trump's policies on tax cuts and tariffs could push inflation and bond yields higher, contrasting with Harris' more moderate stance.
The dollar index rose 0.8% to 104.19, bolstered by gains against the yen and offshore yuan, as well as the euro’s slip. In equity markets, S&P 500 futures gained 0.6%, while the MSCI Asia-Pacific index was stable. Oil prices dipped in early Asia trade amid election uncertainties, with U.S. crude down to $71.66 per barrel.
(By Commoditiescontrol Bureau; +91-9820130172)
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