Wall Street gains as traders bet on Clinton triumph

November 8, 2016 7:20 AM EST

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2016. REUTERS/Brendan McDermid

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By Noel Randewich

(Reuters) - U.S. stocks rose for a second straight session on Tuesday as investors bet Democratic candidate Hillary Clinton would win the U.S. presidential election.

Wall Street sees the former secretary of state as a status quo candidate lending stability to the markets, while Republican candidate Donald Trump's stances on foreign policy, trade and immigration are less certain.

Data company VoteCastr, which is providing real-time election information through news outlets, including Slate, showed Clinton with an early lead among voters in Florida, a must-win state for Trump.

Several investors said VoteCastr's data pushed stock prices higher, although many questioned its accuracy.

Clinton has a 90 percent chance of defeating Trump, according to the final Reuters/Ipsos States of the Nation poll released on Monday.

"The market's betting that a Clinton victory will lift the cloud of uncertainty we've been facing the last two weeks," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "We're basically back to where we were last week. The market had gotten oversold."

After starting the session at a slight loss, the Dow Jones industrial average <.DJI> ended up 0.4 percent at 18,332.43 points and the S&P 500 <.SPX> gained 0.38 percent to 2,139.53 points. The Nasdaq Composite <.IXIC> added 0.53 percent to 5,193.49 points.

The CBOE Volatility index <.VIX>, dubbed Wall Street's "fear gauge," reversed an early increase and dipped 0.9 percent after having notched its biggest one-day drop since late June on Monday.

The iShares MSCI Mexico Capped ETF (NYSE: EWW), known of late as the "Trump ETF," climbed 1.75 percent. The ETF is viewed as a barometer of Trump's chances of winning the election since his policies are considered negative for Mexico.

Clinton was on track to win 303 votes in the electoral college to Trump's 235, clearing the 270 needed for victory. She also leads Trump by about 44 percent to 39 percent in the popular vote, according to the Reuters/Ipsos poll.

The S&P 500 has surged 2.6 percent since the FBI said on Sunday it would not press criminal charges against Clinton over her use of a private email server, an announcement seen as improving her chances at the polls.

Shares of Smith & Wesson Holding (NASDAQ: SWHC) rose 2.15 percent. Its sales have benefited in the past from fears among gun owners of increased gun control.

Aetna (NYSE: AET) and Anthem (NYSE: ANTM) jumped more than 2.7 percent. Both health insurers have gained from the Affordable Care Act, which Clinton has vowed to extend.

Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.21-to-1 ratio favored advancers.

The S&P 500 posted 22 new 52-week highs and three new lows; the Nasdaq Composite recorded 60 new highs and 86 new lows.

About 7.0 billion shares changed hands on U.S. exchanges, above the 6.7 billion daily average over the last 20 sessions.

(Additional reporting by Yashaswini Swamynathan and Tanya Agrawal in Bengaluru, and Dion Rabouin, Sinead Carew and Lewis Krauskopf in New York; Editing by Dan Grebler and James Dalgleish)



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Comments

Why Donald Trump will win?
Ewiak Ryszard on 2016-11-08 09:00:06
Mark as Spam | Reply to this comment

Why Donald Trump will win? Let me remind here a fragment of an ancient vision: "And [the king of the north] will go back (to) his land with great wealth [1945. This detail indicated that Hitler will attack also the Soviet Union and will fight to the bitter end. In the beginning there were no signs of such the ending of this war]; and his heart (will be) against the holy covenant [hostility towards Christians]; and will act [it means activity in the international arena]; and turned back to his own land [1991-1993. The collapse of the Soviet Union and the Warsaw Pact. Russian troops returned to their country]. At the appointed time [he] will return back." (Daniel 11:28, 29a) The return of Russia in this context means the breakup of the European Union and NATO. Many countries of the former Eastern block reconciled with Russia. Such is the plan of God. It is no coincidence that Obama is currently the president of the United States. God in this way has secured us against a premature world war. The first should be the return of Russia, and then the war, and not vice versa. (Daniel 11:29,30; Matthew 24:7; Revelation 6:4; cf. Jeremiah 1:12) American-Russian relations are very strained. It is true that Hillary Clinton's foreign policy plan in Syria would trigger World War Three, therefore now Trump will win. The world will be safer, at least for a moment.

In 1882 British troops occupied Egypt. Great Britain then took the role of "the king of the south". Around the same time, Russia expanded its influence in the region, which previously belonged to Seleucus I Nicator, and took the role of "the king of the north". (Daniel 11:27)

All the details of this vision are being fulfilled from the time of ancient Persia, in chronological order. It is true that this vision is variously interpreted. As one can see, it has a lot of details. Therefore the insightful person is able to detect any error or sophistry. (Daniel 12:10)


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