“Presidential Elections” – that’s on markets’ lips - Tuesday Review, November 3

By: Miguel A. Rodriguez

12:04, 04 November 2020

Global markets maintain the election-induced momentum

The US

The markets rallied on elections day. Stocks went up boosted by hopes that a new stimulus package will be rolled out if Biden wins. USA30 jumped 2.06%, while USA500 was up 1.73%. TECH100 added 1.85%.

Crude traded at $36.98 per barrel after it gained 0.5%. Brent inched up 0.3% to $39.07.

Gold was flat at $1,892.50 per ounce.


Asia and Australia

HongKong45 went up 1.77% after the promising figures regarding the country’s manufacturing PMI were released.

Down under, Australia200 rose 1.79% ahead of the monetary policy that will be announced by the Reserve Bank.



To the momentum reported on the markets contributed not only the US presidential elections but also the earnings season. Promising results came from companies like Hugo Boss and IWG. Germany30 traded 0.6% higher. France40 went up 0.8%. UK100 climbed 1%.

EUR/USD closed at 1.1684 after it gained 0.4%.

Sources: reuters.com, investing.com

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