After the Federal Bureau of Investigation cleared the name of Democratic presidential candidate Hillary Clinton on the issue over the private e-mails, US stocks soared higher indicating an outlook of the nation a day before the election.
Following the rally of the U.S. currency, the majority of the global stocks moved higher after Clinton was absolved in the case. The SP500 Futures added 1.31 percent to 2,107.75 while Nasdaq Futures made 1.48 percent increase to 4,726.88. Similarly, the US dollar Index was up by 0.69 percent and DAX advanced 1.53 percent to 10,415.25. However, other stocks, including Dow 30 and S&P500 VIX were a bit challenged after losing 0.24 percent and 12.71 percent respectively.
Shares in Asia also made a remarkable jump as the market enthusiasm was regained. After the market closed stocks in Sri Lanka, Japan, Indonesia, India and Taiwan moved upward. In Japan, Nikkei 225 rose 1.61 percent as the Machinery and Automobiles &Parts sector performed well with Suzuki Motor Corporation which gained 7.19 percent.
Meanwhile, CSE All-Share advanced 0.15 percent, IDX Composite Index went up 0.44 percent and Nifty 50 added 0.15 percent. Despite the growing concerns about oil production cut, shares in Saudi Arabia went moderately strong. Also, the European and Australian stocks were relatively higher with S&P/ASX 200 up 1.35 percent.
As it turned out, the news about Clinton made the investors optimistic over the US economy in the long run. This could somehow indicate which party does the America trust this election. Even prior to the allegations with Clinton, the Federal Reserve was speculated of playing sides and reports showed that the central bank may not push the rate hike if the Republican will win the race. Thus, Clinton’s presidency lessens the uncertainties in the market and heightens the aggressiveness of the market players.
In terms of economic outlook, the two presidential candidates obviously have different plates to offer. On one hand, Donald Trump wants to end trade deals, eliminate regulation and pay attention on reducing taxes. On the other hand, Clinton is loud and clear in voicing out her intention to increase taxes on the wealthy, focus on the creation of jobs and decrease the taxes of the companies which can offer more jobs. Apparently, investors have casted their vote.
Clinton Gets Absolved
The FBI remained firm on their decision regarding the private-email usage of Clinton in her term as the state secretary. According to the report delivered by FBI director James Corney to the Congress, there was no criminal wrongdoing over Clinton’s private server. As expected, Trump questioned the conclusion of the investigation team, but, FBI shrugged off the accusation of the Republican front runner.
In the letter that Corney submitted in the congress he indicated “During that process, we reviewed all of the communications that were to or from Hillary Clinton while she was secretary of state. Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton… I am grateful to the professionals at the FBI for doing an extraordinary amount of high-quality work in a short period of time.”
The Justice Department has released its statement as well and it turned out it was on the same page. It did not come as a surprise when it reported that the Department of Justice and the FBI dedicated all necessary resources to conduct the review expeditiously. Apart from Trump, critics noted the political pressure that FBI underwent which pushed them to release the result abruptly. It could be a huge relief to the Democratic party, but the ability of the government agency to review 650,000 emails in eight days was still a big puzzle for some.
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