Most major market indexes rallied through the course of the week both in anticipation of, and following, the U.S. Election. The final voting day was Tuesday November 3rd.
The first to reach 270 Electoral Votes will be the presumptive winner. Virtually all major news outlets give Biden the current lead in the “Race to 270”, though the precise Electoral Vote count varies somewhat depending on the news outlet.
Joe Biden is the current betting favourite to win the election, and markets have experienced a “relief rally” of sorts as the votes have continued to improve Biden’s prospects. It should be noted that it may be some time before Biden officially clinches the election, as President Trump is likely to challenge some results and/or demand recounts in tightly-contested states.
In our September E-Newsletter, we wrote in greater detail about the expected market implications following the election. You can read that article here.
Weekly Update – By The Numbers
| North America | Friday Close | Weekly Change | Weekly % Change | YTD % Change |
| Canada – S&P TSX Composite | 16,283 | 702 | 4.51% | -4.57% |
| USA – Dow Jones Industrial Average | 28,323 | 1,821 | 6.87% | -0.75% |
| USA – S&P 500 | 3,509 | 239 | 7.31% | 8.60% |
| USA – NASDAQ | 11,895 | 983 | 9.01% | 32.56% |
| Gold Futures (USD) | $1,951.50 | $74.10 | 3.95% | 28.39% |
| Crude Oil Futures (USD) | $37.49 | $1.70 | 4.75% | -38.75% |
| CAD/USD Exchange Rate | € 0.7762 | € 0.0252 | 3.36% | 0.81% |
| Europe / Asia | Friday Close | Weekly Change | Weekly % Change | YTD % Change |
| MSCI World Index | 2,470 | 177 | 7.72% | 4.75% |
| Switzerland – Euro Stoxx 50 | 3,204 | 246 | 8.32% | -14.51% |
| England – FTSE 100 | 5,910 | 320 | 5.72% | -21.78% |
| France – CAC 40 | 4,961 | 367 | 7.99% | -17.01% |
| Germany – DAX Performance Index | 12,480 | 924 | 8.00% | -5.80% |
| Japan – Nikkei 225 | 24,325 | 1,348 | 5.87% | 2.82% |
| China – Shanghai Composite Index | 3,312 | 87 | 2.70% | 8.59% |
| CAD/EURO Exchange Rate | € 0.6448 | € 0.0018 | 0.28% | -6.06% |
| Fixed Income | Friday Close | Weekly Change | Weekly % Change | YTD % Change |
| 10-Year Bond Yield (in %) | 0.8200 | -0.0400 | -4.65% | -57.27% |
Source: Yahoo! Finance, CNBC.com
This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.