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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2016.11.0822:32:00UTC+00U.S. Stocks Advanced Ahead of Elections Results

Wall Street closed higher, extending a volatile stretch for financial markets as investors await the outcome of the U.S. presidential election. Stocks declined during early session but eventually rebounded as U.S. oil prices were higher while government bonds dropped.

The Dow Jones industrial average climbed 0.4 percent to 18,332.43. The S&P 500 added 0.38 percent to 2,139.53 while the Nasdaq gained 0.53 percent to 5,193.49. McDonald's, 3M and Travelers contributed the most gains to the Dow. Utilities in the S&P 500 rose by nearly 0.7 percent. According to First Standard Financial's chief market economist, Peter Cardillo, the Mexican Peso's surge could be lifting sentiment in the U.S. stock market. The Mexican peso traded near 18.44 and has lately been considered as a proxy trade for the U.S. election. The CBOE Volatility Index (VIX) declined by almost five percent to trade near 17.9.

Latin American equity markets traded mostly higher, as the iShares MSCI Mexico Capped ETF (EWW) rose 1.75 percent while the iShares MSCI Brazil Capped ETF (EWZ) gained 0.72 percent.

Tags: Stock market

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