U.S. Stocks Rise Amidst Intense Election Developments

U.S. Stock Market Update – November 5:

On November 5, U.S. stocks posted strong gains:

• The S&P 500 surged 1.23%, closing at 5,782.76 points.

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• The Nasdaq Composite climbed 1.43% to 18,439.17 points.

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• The Dow Jones advanced 1.02% to 42,221.88 points.

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Presidential Election Overview:

The race for the 47th U.S. President between Donald Trump and Kamala Harris remains highly competitive. As of 9:30 AM (Vietnam time), Trump leads with 178 electoral votes, having secured Texas and several southern states, while Harris trails with 99 votes.

Upcoming Fed Decision:

The Federal Reserve is set to announce its interest rate decision on November 7, along with remarks from the Fed Chair on upcoming policy directions.

Other Market Updates:

• U.S. Treasury Yields: The 10-year yield climbed back near 4.4%.

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• Dollar Index (DXY): Dropped 0.46% to 103.42.

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Precious Metals:

• Spot Gold: Edged up 0.2% to $2,740.96/ounce.

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• Gold Futures: Slightly rose to $2,749.70/ounce.

  
  

  Senior market strategists at RJO Futures noted that gold prices are being supported by uncertainty surrounding the election.

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Commodity Markets:

• Brent Crude Oil: Increased 0.6% to $75.53/barrel.

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• WTI Crude Oil: Gained 0.73% to $71.99/barrel.

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Other Metals:

• Silver (Dec 2024): Gained 0.5% to $32.775/troy ounce.

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• Platinum (Jan 2025): Jumped 2% to $1,006.7/troy ounce.

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• Copper (Dec 2024): Rose 1% to $4.475/pound.

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Source: Compiled