Connect with us

Sports

Stocks Rally Into Election Results (Live Coverage)

Published

on

Stocks Rally Into Election Results (Live Coverage)

Here is IBD’s stock market election news live coverage, as former President Donald Trump and Vice President Kamala Harris close out a tight race. Dow Jones futures, bitcoin, Treasury yields and more will take their cue from Tuesday’s results. So will individual stocks such as Tesla (TSLA) and Trump Media & Technology (DJT).

The stock market rallied Tuesday into election results, with strong gains on the indexes.





X



NOW PLAYING
Stocks Rally Into Election Results; Astera Labs, Intuitive Surgical, Howmet Aerospace In Focus



Follow along for timely updates for stock market election reaction Tuesday night.

6:07 p.m. ET

Dow Jones Futures Rise

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures also climbed 0.1%. Nasdaq 100 futures advanced a fraction.

Bitcoin edged up to about $69,500.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

5:30 p.m. ET

Trump Media Reports Surprise Loss

Trump Media reported a $19.2 million loss for the third quarter in a surprise Election Day filing after the close. The Truth Social parent, majority owned by Donald Trump, had $1.01 million in revenue, up slightly from recent quarters.

Trump Media stock rose modestly in late trade after a whipsaw regular session.


When Key Polls Close

A handful of states will decide whether Trump or Harris win the presidency. Polls will start to close at 7 p.m.-8 p.m. ET on the East Coast, but many key states will be voting until 9 p.m. ET or even 10 p.m. ET. The House and Senate also are up for grabs, though Republicans are favored to seize the upper chamber.

Many states count mail-in ballots ahead of Election Day. They may have the bulk of overall votes counted by midnight ET. But Pennsylvania and Wisconsin only started to process mail-in ballots on Tuesday morning, which means a huge number of votes may be uncounted when the stock market opens Wednesday morning.

The video embedded in this article discusses Tuesday’s stock market action and potential election impact. It also analyzes Astera Labs stock, Intuitive Surgical (ISRG) and Howmet Aerospace (HWM).


Join IBD experts as they analyze the market after the election on IBD Live


Stock Market Rally

The stock market rally had a strong session on Tuesday, with investors bullish heading into election night.

The Dow Jones Industrial Average rose 0.9% in Tuesday’s stock market trading. The S&P 500 index jumped 1.2%. The Nasdaq composite leapt 1.4%. The small-cap Russell 2000 ran up 1.9%.

The Dow Jones regained its 50-day line. The S&P 500, Nasdaq and Russell 2000 moved above their 21-day lines.

All remain at key levels, with the stock market election results perhaps providing a big positive or negative catalyst. Many leading stocks look like the S&P 500, pulling back from record highs above a prior consolidation, finding support at the 50-day or 21-day.

Key Election Day Stock Movers

Trump Media stock, which has acted as a stock market sentiment gauge for Donald Trump’s candidacy, leapt 19% intraday before closing down 1.2%. DJT stock has had big swings in the past several weeks.

Tesla stock popped 3.5% to 251.44, snapping a six-session slide, rebounding from its 21-day line. CEO Elon Musk has been a huge Trump supporter, so TSLA stock could move on election results.

AI plays Palantir Technologies (PLTR) and Astera Labs (ALAB) were big winners. Palantir stock surged 23.5% and Astera Labs gapped up nearly 38%, both spiking to record highs on strong earnings and guidance.

AI chip leader Nvidia (NVDA) rose rose 2.85% to 139.93, moving off the 21-day line to just below the 140.76 buy point, according to MarketSurge. Nvidia stock closed with a $3.432 trillion market cap vs. $3.378 trillion for Apple (AAPL).


What Trump Vs. Harris Election Outcomes Mean For S&P 500, Fed Rate Cuts


Bitcoin, Oil, Yields

Bitcoin bounced 3.2% to $69,442.71, ending a two-slide after nearly setting all-time high levels.

U.S. crude oil prices gained 0.7% to $71.99 a barrel.

The 10-year Treasury yield fell two basis points to 4.29%, reversing from a four-month high of nearly 4.37% intraday.

Don’t forget: The Federal Reserve’s next policy meeting starts Wednesday, with a quarter-point rate expected Thursday afternoon. Fed chief Jerome Powell’s comments about future policy will be in focus. The election outcome and likely policies may have a notable impact on future Fed actions.


Time The Market With IBD’s ETF Market Strategy


What To Do Now

Keep a level head. Don’t have a knee-jerk reaction to stock market election results and reaction, especially when the outcome is in doubt. There could be whipsaw action in the near term, with the Fed meeting decision and continued heavy earnings adding to the election news.

When the dust settles, you want to be ready to add or reduce exposure.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

YOU MAY ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader

Best Growth Stocks To Buy And Watch

How To Invest: Rules For When To Buy And Sell Stocks In Bull And Bear Markets

Fund Manager Jim Roppel: Expect ‘Significant Move’ Postelection

Continue Reading