FX168 Financial News (North America) News As investors digest the results of the US presidential election, US equity index futures surged significantly, with the election results showing Donald Trump leading Kamala Harris.
The former president won North Carolina and Georgia, both key battleground states, which the Associated Press has called for the winner. The results in Pennsylvania, Arizona, Wisconsin, Nevada, and Michigan are still pending.
Around 2 am Eastern Time in the United States, technology stocks led the way with the Nasdaq 100 index (NQ=F) and S&P 500 index futures (ES=F) contracts both soaring by about 1.6%. Dow Jones Industrial Average futures (YM=F) rose by over 1.7% driven by the market rally.
At the same time, futures tied to the 10-year US Treasury bond (TY=F) rose nearly 15 basis points, trading above 4.4%. Bitcoin (BTC-USD) rose to record levels alongside the US dollar as the night's returns supported the 'Trump trade'.
Currently, all states have closed their respective polling stations. According to the Associated Press, Trump has secured 248 electoral votes so far, while Harris has obtained 214.
In addition to the presidential election, the Republicans have also reversed the situation in the Senate.
Earlier this week, Harris and Trump made their final pitches to voters. Trump promised to impose tariffs at the last minute and reduce chip funding, while Harris pledged to 'find common ground' at the final rally in Philadelphia on Monday.
