Dow futures indicate 300-point pop as Biden scores early lead on Super Tuesday

Dow futures indicate 300-point pop as Biden scores early lead on Super Tuesday
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Democratic presidential candidate and former Vice President Joe Biden speaks at a campaign event in Nashua, New Hampshire, February 4, 2020. Rick Wilking | Reuters U.S. stock index futures pointed to a higher Wednesday open as early results on Super Tuesday showed former Vice President Joe Biden notching key wins and reassuring investors of his place amid the top candidates in the Democratic pool. As of 10:39 p.m. ET on Tuesday, Dow Jones Industrial Average futures indicated a pop of about 320 points at the open. Futures on the and also pointed to similar, 1% gains. Still, there are several hours until the opening of equity trading in New York on Wednesday and the implied open could change over the course of the night. Biden’s success early into Super Tuesday voting appeared to buoy U.S. equity futures as the former vice president notched a flurry of victories in key southern states including Virginia, North Carolina and Arkansas. “We think the equity market has also been spooked by the decline in expectations that Trump will get reelected in the betting market, as well as Sanders’ early 2020 surge in the betting markets and the polls,” wrote RBC Capital Markets Head of Equity Strategy Lori Calvasina, referring to the market’s turbulence in recent weeks. Calvasina wrote that if Biden proves he can pose a serious threat to Sanders on Super Tuesday, industries that have come under pressure throughout the Vermont senator’s recent rise (e.g., health care) may see positive moves on […]

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