CommSec Market Update

Morning Report 06 Nov 24: Wall Street gains on U.S. election day as tech and chip stocks rise


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U.S. stocks are moving higher as the final votes for the presidential election are cast. All sectors in the S&P 500 are up, led by Palantir Technologies, which reached a record high on positive guidance. Meanwhile, U.S. bond yields are advancing as betting markets lean towards a Trump victory. Iron ore has climbed to a two-week high on expectations of additional stimulus from China, while copper hit a three-week high, supported by a weaker U.S. dollar. Closer to home, the RBA still sees inflation as sticky but notes strong job growth, and Aussie shares are expected to rise, supported by strong commodity prices.

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