Hi, this is Rebecca Choong Wilkins in Hong Kong, where I watched that red wave sweep across the US electoral map while wondering what Beijing is making of Donald Trump moving into the White House again soon. There’s no doubt Chinese officials were closely watching given the stakes are mammoth: Trump’s return may reignite a…
Donald Trump quickly put his stamp on financial markets Tuesday night. As the votes piled up in key swing states in his favor, leaving him on the cusp of returning to the White House, all the tried-and-true Trump Trade plays erupted. US stocks surged, with S&P futures climbing 1.4%; the dollar posted its biggest gain…
Asian stocks outside of Japan declined in early trading, dragged down by losses in Hong Kong-listed Chinese technology shares as Donald Trump took an early lead in the US presidential election. The MSCI Asia Pacific Excluding Japan Index slid almost 1%, with Alibaba Group Holding Ltd. and Meituan among the biggest drags on the benchmark….
US equity futures climbed to session highs on Tuesday as polls closed in key states, with the riskiest parts of the stock market posting the biggest swings. Futures on the small-cap Russell 2000 Index advanced as much as 3.6% as of 10:02 p.m. in New York, before paring the rally to 2.5%. Contracts on the…
Elon Musk vowed Tuesday to keep his political action committee going beyond the presidential election, a sign the world’s richest person is building a political machine that goes beyond his support of Republican nominee Donald Trump. “America PAC is going to keep going after this election,” Musk said on an X Spaces Tuesday. Musk said…
Election Day in the US is creeping ever closer. With the race looking so tight, traders are paring the so-called Trump trades. The US dollar, long favored as a prime play for a Donald Trump victory, weakened after weekend polling numbers suggested Kamala Harris gaining an edge in some swing states — with even Judy…
Strategists at JPMorgan Chase & co. and Morgan Stanley agree: bond yields will set the direction of travel for US equities in the aftermath of Tuesday’s election. A win for Donald Trump together with a Republican sweep of Congress followed by limited moves in the 10-year Treasury yield on expectations of improving economic growth would…
Chinese lawmakers are gathering in the shadow of the US election to sign off on a fiscal package that’s set to run into the trillions of yuan yet is unlikely to put the market fully at ease. The stakes have grown for this week’s conclave of the Standing Committee of the National People’s Congress, the…
For the big money on Wall Street, there’s the prep that’s bound to come with a coin-toss election that could dramatically swing policy. Trading desks staffed through the night, with teams in Hong Kong and Singapore enlisted to help. Tracking popular “Trump trades” — long the dollar, short bonds — ready to pile in or…
Just before a hotly contested US election considered a toss-up, options traders across markets appear to be reducing risk and bracing for more volatility. Equity options volatility climbed through most of October even as the market’s swings were muted, in anticipation of not just the upcoming election but also earnings season and a Federal Reserve…