U.S. stock futures surged higher late Tuesday evening as investors processed the first wave of results from the ongoing presidential election, which saw voters flocking to the polls to decide between Kamala Harris and Donald Trump.
By 10 p.m. ET, contracts for the tech-heavy Nasdaq 100 (NQ=F) had jumped 1.3%, while S&P 500 futures (ES=F) climbed approximately 1.2%. Dow Jones Industrial Average futures (YM=F) were up about 1.4%, following a solid day of gains for stocks across major indexes.
Meanwhile, futures linked to the 10-year Treasury note (TY=F) surged nearly 13 basis points, surpassing 4.4%, reflecting growing expectations of interest rate movements and economic policy shifts depending on the election’s outcome.
Stocks finished Tuesday’s session firmly in the green, as Americans cast their votes to decide the next president. Polls had closed in several key battleground states, including Georgia, North Carolina, Pennsylvania, Michigan, and Wisconsin, with more polling stations scheduled to close by 11 p.m. ET.
As of the latest updates, Trump had secured 198 electoral votes, while Harris had earned 109, according to the Associated Press. The slow trickle of results from these pivotal states left investors closely watching any movement in stock futures, anticipating potential short-term volatility depending on the outcome. With many states still tallying votes, the final results may take days or even weeks to determine.
Both candidates made final pushes in the final hours before voting. Trump advocated for more tariffs and promised to limit government support for the semiconductor industry, while Harris rallied in Philadelphia with a message of unity, pledging to “seek common ground” in her approach to governance.
With the election still too close to call, the market’s immediate reaction was one of optimism, but uncertainty remains, as investors brace for potential swings in the coming days.
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