WS #16853
US equity futures surged, with the Dow Jones jumping over 800 points, as markets priced in a 'Democrat Sweep' that divides Congress and curbs executive overreach. This political resolution has triggered a broad rotation into cyclicals, benefiting homebuilders and regional banks, while simultaneously causing oil prices to crash below $93/barrel as energy supply risks evaporated. The dollar weakened against major peers, and gold rose to $4,050 as investors rotated out of USD assets.
Democrat Sweep Rally
US equity futures surged, with the Dow Jones jumping over 800 points, as markets priced in a 'Democrat Sweep' that divides Congress and curbs executive overreach. This political resolution has triggered a broad rotation into cyclicals, benefiting homebuilders and regional banks, while simultaneously causing oil prices to crash below $93/barrel as energy supply risks evaporated. The dollar weakened against major peers, and gold rose to $4,050 as investors rotated out of USD assets.