US stocks surge at open after second presidential debate

Haresh Menghani FXStreet

After snapping a three-week of winning streak, major US equity indices opened higher on Monday on increasing chances of Clinton's win in the US Presidential election in November. Although the second US Presidential debate provided little direction to the voter, a sharp appreciating move in the Mexican peso indicates the financial markets seems to have given thumps-up to Mrs. Clinton and chances of Donald Trump’s becoming president have dropped.

At the time of reporting, the Dow Jones Industrial Average rose over 140 points to 18,380 and the broader S&P 500 Index rose around 15 points to 2,168. Meanwhile, tech-heavy Nasdaq composite reclaimed 5,300 mark and jumped to 5,333, posting gains of over 40 points.

Renewed buying interest in crude oil, with WTI rising back above $50.00/barrel mark, supported energy companies and boosted investor appetite for riskier assets. With a government holiday for Columbus Day, no economic releases were scheduled for release on Monday.

In other markets, the overall US Dollar Index reversed major part of its disappointing NFP-led declines and rose against its key counterparts.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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