Stocks turned in a stellar session on , with the S&P 500 turning its best best win since Sept. 19, the Dow securing its biggest gain since Oct. 11, and the Nasdaq since Oct. 8. Attention is fixed on the results of the tight U.S. Presidential election, but which party has the upper hand in Congress could determine the trajectory of spending and/or tax policy changes.In the background, the Federal Reserve is gearing up to make its November rate decision on Thursday, and Chair Jerome Powell’s subsequent commentary. As of this writing, the CME Group’s FedWatch Tool shows traders pricing in a 99% chance of a quarter-point cut.
Oil, Gold Prices Rise Ahead of U.S. Election Results
Oil prices turned in their fifth-straight win, as investors awaited the results of the U.S. election. December-dated West Texas Intermediate (WTI) crude rose 52 cents, or 0.7%, to settle at $71.99 per barrel for the session.Gold prices also gained today, rising after first-time precious metals buyers rose last month ahead of the U.S. election. Gold for December delivery added $3.50, or 0.1% to settle at $2,749.70 an ounce.More By This Author:
Wall Street Turns In Big Gains On Election Day
