Election Day Rally: U.S. Stock Futures Rise Amid Tight Race

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On Election Day morning, U.S. stock futures saw modest gains as investors navigated a close race between Kamala Harris and Donald Trump. While futures for the Dow, S&P 500, and Nasdaq rose by 0.1% to 0.2%, the dollar softened slightly, and Treasury yields edged upward, with investors leaning toward caution due to the tight polls and possibility of a drawn-out vote count.

In premarket action, Trump-aligned assets showed strength. Trump Media & Technology Group rose by 5%, while Bitcoin gained over 2%, fueled by Trump's pro-crypto promises, including a “strategic reserve” for Bitcoin and a regulatory light touch. International markets presented a mixed picture: while Chinese and Hong Kong stocks rallied, reflecting more domestic concerns around China’s own economic stimulus, markets in South Korea and India saw minor declines.

​With U.S. Election Day underway, Wall Street is focused on more than just the presidential results. Investors are also keeping an eye on Thursday’s Federal Reserve decision and upcoming corporate earnings, which add to this week’s volatile mix.