“President Trump claims victory, hints at Supreme Court action, in White House speech“– Paul Ebeling
US stocks closed sharply higher Tuesday as Americans voted in the most Presidential election ever and investors bet it would be decided without a prolonged process, leading to a Fassst deal on more fiscal aid/relief/stimulus.
Gains were broad, with 10 of the 11 major S&P sectors in the Green, led by financials and industrials while investors pared some bets on post-vote volatility that dominated in recently.
The CBOE Volatility index (VIX) tapped a 1-wk low after marking a 4,5 month high last week.
Some analysts and Wall Street strategists see the races in the contested swing states as close enough that President Trump could piece together the 270 Electoral College votes he needs to stay in the White House another 4 yrs which he did do.
The strong value and financial led stock rally the past 3 days indicate the Trump Victory had become more definitive.
Tuesday, the benchmark US stock market indexes finished at: DJIA +554.98 at 27479.97, NAS Comp +202.96 at 11160.50, S&P 500 +58.92 at 3369.16
Volume: Trade on the NYSE came in at 862-M/shares exchanged
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias.
- NAS Comp +24.4% YTD
- S&P 500 +4.3% YTD
- DJIA -3.7% YTD
- Russell 2000 -3.3% YTD
Looking Ahead: Investors will receive the ISM Non-Manufacturing Index for October, the ADP Employment Change Report for October, the Trade Balance Report for September, and the wkly MBA Mortgage Applications Index Wednesday.
Making and Keeping America Great!
Have a healthy day, Keep the Faith!