- The major Wall Street indices are trading in positive territory on Tuesday.
- All major sectors of the S&P 500 are operating in positive territory.
- The first results of the US elections are scheduled to arrive after the closing bell.
The main US stock indices opened decisively higher on Election Day as investors seek to adjust their positions while waiting for the first results to come in after the closing bell. At time of writing, the S&P 500 Index was up 1.3% on the day to 3,352, the Dow Jones Industrial Average was up 1.63% to 27,372 and the Nasdaq Composite was up 0.55% to 11,016.
Reflecting market optimism, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, was down 3.3% on the day to 35.9.
The top 11 sectors of the S&P 500 are trading in positive territory with the Financial Index leading the rally, rising more than 2%. On the other hand, defensive real estate underperformed early trading, up 0.7% on the day.
In anticipating the reaction of the US stock markets to the outcome of the election, “the stock and business markets historically prefer the economic and regulatory policies of Republican administrations. On a strict policy basis that remains valid for the mandate of Trump, “said FXStreet Senior Analyst Joseph Trevisani. “The overwhelming tilt toward Biden in financial sector campaign contributions is a function of two factors. The first is practical. Biden has led the polls this fall and Wall Street, true to its analytical base, is playing the odds. “.
S&P 500 chart (daily)
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Credits: Forex Street
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