Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Futures surge on Trump victory
(Sharecast News) - Wall Street futures were sharply higher ahead of the bell on Wednesday after news outlets began to call the 2024 presidential election for Donald Trump. As of 1220 GMT, Dow Jones futures were up 2.92%, while S&P 500 and Nasdaq-100 futures had the indices opening 2.08% and 1.47% firmer, respectively.
The Dow closed 427.28 points higher on Tuesday as America headed to the polls in what was widely considered to be a deadlocked race between former president Trump and vice president Kamala Harris.
Trump was projected to defeat his Democratic rival after winning 276 Electoral College votes, including the key swing states of Pennsylvania, North Carolina and Georgia. The Republican Party was also projected to win back the Senate, while the race for the House of Representatives was still ongoing, leaving the potential for a possible "red sweep".
Stocks linked to Trump traded higher ahead of the bell, with shares in both Tesla, of which CEO Elon Musk was a prominent supporter of the former president, and Trump Media & Technology trading firmly in the green, as did bank stocks.
Bitcoin also surged to an all-time high of $75,000 on the back of hopes for relaxed regulation on cryptocurrencies, while the yield on the benchmark 10-year Treasury note surged to roughly 4.455% due to speculation that Trump's proposed tax cuts and other spending plans would spark economic growth but also widen the fiscal deficit and further accelerate inflation.
On the macro front, mortgage applications sunk 10.8% week-on-week in the seven days ended 1 November, according to the Mortgage Bankers Association, a sixth consecutive decline following a 0.1% drop in the prior week. Applications plunged 35% across October as a whole due to a 67 basis point monthly rise in benchmark interest rates.
In the corporate space, embattled drugstore retailer CVS Heatlh posted mixed Q3 results as increased medical expenses weighed on the company's bottom line.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
