As investors digest the results of the U.S. presidential election, U.S. stock index futures have surged, showing that Donald Trump leads Kamala Harris.
The former president won North Carolina and Georgia, two key swing states that the Associated Press will declare as winners. Results from Pennsylvania, Arizona, Wisconsin, Nevada, and Michigan remain undecided.
Around 2 AM Eastern Time, the tech-heavy Nasdaq 100 index (NQ=F) and S&P 500 index futures (ES=F) contracts both surged about 1.6%. The Dow Jones Industrial Average futures (YM=F) rose over 1.7% on the back of the stock market's gains.
Meanwhile, futures linked to the 10-year U.S. Treasury (TY=F) rose nearly 15 basis points, trading above 4.4%. Bitcoin (BTC-USD) surged to record levels alongside the dollar, as the returns from that evening supported the 'Trump trade'.
Currently, all states have closed their respective polling stations. According to the Associated Press, Trump has so far secured 248 electoral votes, while Harris has obtained 214.
In addition to the presidential election, the Republicans also turned around the situation in the Senate.
Earlier this week, Harris and Trump made their final pitches to voters. Trump promised last-minute tariffs and cuts to chip funding, while Harris pledged to 'seek common ground' at her final rally in Philadelphia on Monday.
