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US Futures Flat, Rebound From Session Lows On Rising Election Jitters

Thursday, November 3, 2016 10:55
% of readers think this story is Fact. Add your two cents. / By Tyler Durden / Nov 3, 2016 6:57 AM

Asian stocks, S&P futures and European shares trade flat as a tightening race for the U.S. presidency spurs demand for haven assets including the yen while weighing on stocks and Mexico’s peso. A turbulent overnight session saw some early risk off following the plunge in Facebook shares and the Fox News report that an FBI probe into the Clinton foundation may lead to a “likely indictment.”

More recently, news out of the UK, where a High Court ruled against the government, that an Article 50 Vote would need approval from government, sent sterling surging and provided a modest impetus to risk assets. Still, as Bloomberg notes, investors are becoming increasingly “jittery” on the heels of Trump’s recent upward momentum.  Egypt’s currency tumbled as the country switched to a freely floating exchange rate.

The yen climbed to a one-month high, U.S. equity index futures fell and the MSCI All Country World Index held near its lowest since July after Fox News reported that a Federal Bureau of Investigation probe involving Democratic nominee Hillary Clinton was intensifying. The peso weakened versus all major peers on concern Mexican exports will suffer if she loses, while Bloomberg’s dollar index dropped for a fifth day amid speculation the election’s fallout could deter the Federal Reserve from raising interest rates. Gold gained.


The post US Futures Flat, Rebound From Session Lows On Rising Election Jitters appeared first on Silver For The People.


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