Synergy Capital AM: Nasdaq outperformed leading market higher as US Elections result rolls out

Major Indices rallied and ended up higher as market closed, even though everyone is busy monitoring the US Presidential Election results.

US Presidential Election 2020 voting is done and is awaiting for result whether current President Donald Trump will remain or Democrat Finalist Joseph Biden will triumph.

Biggest contributor on today’s market are Tech related shares, dragging most Stocks higher with Nasdaq Composite leading the session with almost 4% gains.

Treasuries are down together with Gold but crude oil remained strong.

Here are the rest of the movements in the Stock Market this Wednesday;

Stocks

– S&P 500 rose for the third day this week and is up about 74.28 points or is 2.20% higher to 3,443.44.
– The Dow Jones Industrial Average has also increased around 367.63 points or 1.34% to 27,847.66.
– Nasdaq Composite outperformed leading the market with 430.21 points gains or is 3.85% higher to 11,590.78.
– The MSCI All-Country World Index jumps up about 1.9% to 579.11.
– The Stoxx Europe 600 Index gained around 2.1% to 363.31.

Bonds

– The yield on the benchmark 10-year Treasury note dropped about 9 basis points to 0.766%.
– The yield on the 30-year Treasury bond is also down losing around 10 basis points to 1.560%.
– The yield on two-year Treasuries slid a bit with two basis points and is down to 0.14%.
– Germany’s 10-year yield loss around two basis points to -0.64%.

Commodities

– Gold weakened for the first time this week with 9.26 points loss or is less than 1% down to $1,904.90 an ounce.
– Silver has also declined less than 1 point or 2.08% to $23.92 an ounce.
– West Texas Intermediate crude rose about 1.49 points or is less than 4% higher to $39.15 per barrel.
– Brent crude is up with a few points to $41.21 per barrel.

Currencies

– US Dollar Currency Index is down by 1.16% to 93.407 per dollar.
– The euro was little changed at $1.1717, its strongest yet in about week.
– The Japanese yen has no to little change to 104.52 per dollar.

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