US Stock Market Soars to Record Highs Following Trump's Victory in the 2024 Presidential Election, While Stronger Dollar Triggers Commodity Sell-offs

US Stock Market Update - November 6:

At the close of trading, the Dow Jones surged by over 1,500 points, equivalent to a 3.57% gain, reaching a record high of 43,729.93 points. Both the S&P 500 and Nasdaq Composite also hit new records, rising 2.53% to 5,929.04 points and 2.95% to an all-time high of 18,983.47 points, respectively.

US Treasury Bonds:

The 10-year US Treasury yield soared to 4.43%.

Dollar Index:

The US Dollar Index (DXY), which measures the dollar's strength against a basket of currencies, spiked to 105.15 points.

Gold Market:

• Spot gold prices plummeted by 3% to $2,660.1 per ounce, marking the sharpest decline in five months.

• Gold futures dropped by 2.9% to $2,669.2 per ounce.

  
  

Commodities Market:

• Crude Oil: As of the November 6 close, Brent crude futures fell 0.81% to $74.92 per barrel, while WTI crude dropped 0.42% to $71.69 per barrel.

• Metals:

  • December silver futures plunged by 4.4% to $31.331 per troy ounce.

  • December platinum futures faced heavy selling, falling 1.4% to $992.8 per troy ounce.

  • December copper futures tumbled by 5%, settling at $4.246 per pound.

    
    

Source: Compiled Data