financetom
World
financetom
/
World
/
GLOBAL MARKETS-Stocks rise, yields up as investors assess prospect of Trump win
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GLOBAL MARKETS-Stocks rise, yields up as investors assess prospect of Trump win
Jul 15, 2024 9:22 AM

*

Dollar dips, bond yields up after Trump attack

*

PredictIT shows increased chance of Republican win

*

Crypto stocks higher

(Updates to 11:30 a.m. ET (1530 GMT))

By Caroline Valetkevitch and Isla Binnie

NEW YORK, July 15 (Reuters) - World stock indexes and

Treasury yields rose on Monday while the dollar dipped as

investors weighed the prospect of Republican Donald Trump

winning the U.S. presidential race after he survived an

assassination attempt over the weekend.

The Dow hit a record high early, helped by some upbeat

earnings results including from Goldman Sachs ( GS ), which was

up 1.6%.

Investors have tended to react to the prospect of a Trump

win by pushing Treasury yields higher, in part on the assumption

his economic policies would add to inflation and debt.

Some view a Trump victory as likely to mean more tax cuts

and less regulation. Crypto stocks, prison operators and other

shares jumped on Monday.

Shares of Trump Media & Technology Group ( DJT ) were up

32%. Trump owns a majority stake in the company. Crypto stocks

gained as bitcoin rose to a two-week high. The S&P 500

energy sector was up 1.9%.

Online betting site PredictIt showed bets of an election win

for Trump at 67 cents, up from Friday's 60 cents, with Democrat

Joe Biden at 27 cents.

"In a Republican administration, you'll see a lower tax

policy, lower regulatory policy... that's typically good for

stocks. We're seeing some of that in terms of forward-looking

expectations from investors at this point," said Chris

Zaccarelli, chief investment officer for Independent Advisor

Alliance.

The motive behind a 20-year-old gunman's attempt on the life

of Trump remained a mystery, with the suspect having been

neutralized and the FBI unable to determine an ideology that may

have been behind the attack.

Traders also will be watching comments from Federal Reserve

Chair Jerome Powell later in the day for any fresh clues on the

likelihood of a September interest rate cut.

The Dow Jones Industrial Average rose 304.21 points,

or 0.76%, to 40,306.29, the S&P 500 gained 49.73 points,

or 0.89%, to 5,665.13 and the Nasdaq Composite gained

230.51 points, or 1.25%, to 18,628.96.

MSCI's gauge of stocks across the globe rose

3.56 points, or 0.43%, to 832.11, while the STOXX 600

index fell 0.91%.

Dour updates from British luxury group Burberry and

watchmaker Swatch Group raised questions about consumer

confidence.

U.S. retail sales data due on Tuesday was likely to be

closely watched for clues on how consumers are faring.

The dollar index, which measures its performance

against a basket of currencies, fell 0.21% at 104.07, with the

euro up 0.09% at $1.0915. Against the Japanese yen

, the dollar weakened 0.03% to 157.86.

Investors are trying to gauge how soon the Fed may be able

to cut rates, with inflation edging closer to the Fed's 2%

target and rising concerns about how long the job market can

stay strong.

The yield on benchmark U.S. 10-year notes rose

3.1 basis points to 4.218% from 4.187% late on Friday.

U.S. crude lost 0.12% to $82.11 a barrel and Brent

rose to $85.06 per barrel, up 0.04% on the day. Spot

gold added 0.9% to $2,432.94 an ounce

(Additional reporting by Iain Withers in London and and by Lisa

Mattackal and Ankika Biswas in Bengaluru and by Wayne Cole in

Sydney; Editing by Christian Schmollinger, Jamie Freed, Arun

Koyyur, Susan Fenton and Tomasz Janowski)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
EMERGING MARKETS-Latam currencies rise as markets digest Powell remarks
EMERGING MARKETS-Latam currencies rise as markets digest Powell remarks
Jul 9, 2024
* Fibra Macquarie announces shareholder backing for Terrafina takeover * Colombia 12-month inflation rate at 7.18% in June * Chile central bank issues new regulations on securitized bonds * Latam stocks up 1.2%, FX up 0.8% (Updated at 03:04 p.m. ET/ 1904 GMT) By Johann M Cherian July 9 (Reuters) - Most Latin American currencies advanced on Tuesday as investors...
S&P 500 Edges Higher; Indivior Shares Plummet
S&P 500 Edges Higher; Indivior Shares Plummet
Jul 9, 2024
U.S. stocks traded mixed toward the end of trading, with the S&P 500 gaining around 0.1% on Tuesday. The Dow traded down 0.05% to 39,323.7 while the NASDAQ rose 0.10% to 18,422.24. The S&P 500 also rose, gaining, 0.12% to 5,579.76. Check This Out: Nvidia To Rally Over 40%? Here Are 10 Top Analyst Forecasts For Tuesday Leading and Lagging...
TSX Down Amid Mixed Commodity Prices and Questions On Whether Canada Is
TSX Down Amid Mixed Commodity Prices and Questions On Whether Canada Is "Verging on Recession or Just a Regression?"
Jul 9, 2024
04:16 PM EDT, 07/09/2024 (MT Newswires) -- Canada's main stock market, the resources heavy Toronto Stock Exchange, lost 83.63 points on Tuesday, with the S&P/TSX Composite Index closing at 22,042.50 amid mixed commodity prices and some debate on whether the economy here is verging on recession or signalling just a regression. Among sectors, most were losers, led by Battery Metals...
CANADA STOCKS-TSX slips amid broader declines, Fed chair's testimony in focus
CANADA STOCKS-TSX slips amid broader declines, Fed chair's testimony in focus
Jul 9, 2024
* TSX down 0.3% in broad-based declines * Industrials, Healthcare, Consumer shares lead losses * US Fed Chair Jerome Powell's comments pull up financial shares * Maple Leaf Foods ( MLFNF ) to split into two entities; shares jump (Updates with closing figures, sectoral declines) By Nikhil Sharma and Divya Rajagopal July 9 (Reuters) - Canada's main stock index closed...
Copyright 2023-2026 - www.financetom.com All Rights Reserved