Trump Media & Technology Group Corp (NASDAQ:DJT) stock added over 10% in after-hours trading, as early election results showed Republican candidate Donald Trump taking the lead.
U.S. stock futures also rose as well as the dollar with investors reacting to the possibility of a Republican victory in the presidential election. Bitcoin (BitfinexUSD) hit an all-time high with the chances of Trump winning the election race seen brining in a softer stance on regulation of the digital assets ecosystem.
As the counting commenced, Trump gained an early advantage over Democrat Kamala Harris, with states that traditionally lean Republican reporting their results first.
However, the outcome in several key battleground states, which are expected to be crucial in determining the winner, remained uncertain, with official calls not anticipated for several hours.
“The truth is it is too early to tell. It comes down to the “blue wall” states yet again, which suggests we might not know the results until Wednesday morning,” Citi strategists said in a note Tuesday night.
United States 10-Year hit their highest point in four months, reflecting a shift in some betting markets that now favor a Trump win.
Futures markets appear to maintain confidence that the Federal Reserve would proceed with a planned interest rate cut of 25 basis points on Thursday.