Stock futures rally as America awaits Election Day results
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Stock futures gained Tuesday evening as Americans await the results of the 2020 election.
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Polls in Indiana and Kentucky, two states expected to go for President Trump, closed at 6 p.m. ET. An hour later, counting will start in the battleground states of Florida and Georgia.
ELECTION DAY 2020: TRUMP, BIDEN OFFER DIFFERING VISIONS FOR US ECONOMY
Dow Jones Industrial Average futures were up 211 points, or 0.77%, while S&P 500 futures and Nasdaq futures were higher by 0.75% and 0.51%, respectively. The major averages all rose by at least 1.78% during Tuesday’s session, recording their best Election Day since 2008.
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Looking at commodities, West Texas Intermediate crude oil futures traded up 39 cents at $38.39 per barrel and gold futures ticked higher by $4.10 to $1,914.50 an ounce.
This Is It. Here’s What I’m Watching.
We made it to election night, together. I’ll be keeping an eye on a few key places to get an early sense of how the results are unfolding.
By Lisa Lerer
U.S. Senate election results, Colorado
Polls close at 7 p.m. on Tuesday, Nov. 3, 2020. Refresh this page for updated results on Colorado’s U.S. Senate race as they become available. Mobile users, can’t see the results? Tap here.
Florida precinct reports more than 100% voter turnout, it’s not an error
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A precinct in Orange County, Florida, reported a voter turnout rate of more than 100% on Tuesday.
The Orange County Supervisor of Elections posted a Twitter thread on Tuesday citing state turnout data, showing that Precinct 538 had voter turnout exceeding 100%.
Officials explained that as of Oct. 6, the registration deadline, there were 754 voters registered in the precinct.
BIDEN CAMPAIGN SAYS IT CAN WIN WHITE HOUSE WITHOUT FLORIDA OR PENNSYLVANIA
However, after that deadline, some residents updated their address – placing them in the precinct – and voted, bringing the total number of people who voted above 754.
Precinct 538 includes the University of Central Florida area.
The county, overall, had reached 70% voter turnout by Tuesday afternoon – in an election that has drummed up a record amount of enthusiasm.
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Florida is one of the key battleground states that has been targeted by both presidential campaigns.
President Trump narrowly defeated Democratic challenger Hillary Clinton Florida by a margin of about 1.2% in 2016.
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FULL SHOW 10/28/2020: Investors get spooked
New York (CNN Business)US stock futures rose in after-hours trading Tuesday ahead as election night results trickled in.
Dow (INDU)futures were up 207 points, or nearly 0.8%. S&P 500 (SPX) futures climbed 0.7% and Nasdaq (COMP) futures gained 0.5%.
The futures rise follows strong gains for US stocks on Election Day.
The Dow closed Tuesday up 555 points, or 2.1%, higher, its best percentage gain since mid-July. The S&P 500 closed 1.8% higher, its best day in a month. The Nasdaq Composite finished 1.9% higher — its best performance since mid-October.
Hopes for more government spending to help the economic recovery in the near-term boosted markets and riskier investments like stocks. The gains also reflected Wall Street’s bet that former Vice President Joe Biden will win the election.
Analysts at Goldman Sachs (GS) said Tuesday there’s a good chance the winner will be declared Tuesday night because swing states like Florida, Arizona, Georgia and North Carolina will report results quickly. That certainty would also likely be a boost to markets.
Looking ahead, Wendy’s (WEN), Allstate (ALL) and Hilton (HLT) report earnings on Wednesday.
— CNN’s Anneken Tappe contributed to this report.
Cramer's lightning round: Fisker is a 'decent spec'
- It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.
Fisker: "I say it's a decent spec."
Novocure: "The stock has come down. I am a total believer in the technology. … I think it is a decent level to be able to buy, so I'm going to endorse it there."
Seagen: "Clay, please come back so we can find out what's really going on with your great company."
Sunrun: "I always default to FSLR, First Solar which had a magnificent quarter."
Big Lots: "I'm not a big fan."
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