From Morningstar: 2024-11-06 04:19:41

Global markets surged as Donald Trump neared victory in the 2024 US presidential election, leading to a rise in US stocks and the dollar index hitting its highest point since July. Trump’s expected policies led to the euro falling and a rally in cryptocurrencies, with Bitcoin surpassing $75,000.

Investors anticipate Trump’s proposed tax cuts and spending plans to increase the fiscal deficit, pushing the 10-year Treasury yield to around 4.43%. Market strategist Oliver Blackbourn foresees more stimulus for the US economy, depending on Republican control of Congress, noting a global stock market rally.

European stocks had mixed reactions, with Novo Nordisk rising on US market exposure while wind turbine exporters like Vestas fell. UK’s FTSE 100 gained nearly 2% due to a weak pound, benefiting US-exposed stocks like Ashtead and Rolls-Royce. The broader rally outside the US surprised analysts, despite Trump’s trade threats.



Read more at Morningstar: US Stock Futures Jump, Euro Falls on Trump Election…