US stock futures rise, Tesla rises in early trade as markets react to election

On By Littum

As the votes were counted early Wednesday morning in the US presidential election, Dow futures rose, the US dollar strengthened and international markets were mixed.

Dow Jones Industrial Average futures were up about 2.6% at 4:30 a.m. in New York, having rebounded sharply from the 1.7% gain they had registered when former President Donald Trump took the stage in Florida around 1 p.m.

p&P 500 futures were up about 2% early Wednesday, while tech-heavy Nasdaq futures were up about 1.6%. Shares of Tesla, the electric car company led by Trump ally Elon Musk, rose about 13% in pre-market trade.

A woman stops to look at an electronic board showing the numbers of the Tokyo Stock Exchange during afternoon trading in Tokyo on November 6, 2024.

Richard A. Brooks/AFP via Getty Images

US markets were higher on Tuesday, led by the Nasdaq’s 1.4% rise.

As Trump took the stage in Florida early Wednesday, the dollar was strengthening. The US Dollar Index rose about 1.4% to 104.75, touching a level it had not seen since early August. Interest rates on 10-year and 2-year government bonds had also risen last night.

A man walks past an electronic stock board showing Japan’s Nikkei 225 index, center, at a securities firm, Wednesday, Nov. 6, 2024, in Tokyo.

Shuji Kajiyama/AP

Trading in Asia was mixed on Wednesday as international markets digested election results. Japan’s Nikkei closed up 2.61% for the day, while Shanghai closed almost flat, falling just 0.09%.

Hong Kong’s Hang Seng index fell, falling 2.23% at the close after opening during Tuesday’s close.

The U.K.’s FTSE 100 index rallied early Wednesday, gaining about 1.43% moments after opening. Germany’s DAX saw a similar rise, rising about 1.3% in morning trade.