US futures surged on anticipation of Trump presidency and strong retail sales data, boosting markets.

From Yahoo Finance: 2024-07-16 02:24:52

US stock futures surged on the anticipation of a second Trump presidency, boosted by strong retail sales data expected to influence the Federal Reserve’s rate cut decision. The S&P 500 contracts rose 0.1% amid a greater chance of a Trump win after an assassination attempt against him. European futures traded lower ahead of the ECB’s rate decision. The dollar strengthened against most peers, while Asian stocks fell. Trump’s nomination of JD Vance as his running mate propelled oil, gun, and private prison stocks. Vance, 39, brings a fresh appeal to the Republican party’s working-class demographic. Gold rose, while Oil declined on Chinese demand concerns.



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