United States

As the longest election campaign in history comes to a close Wall Street has wasted no time in expressing relief. Last night the Dow gained 300 points and commodity prices surged.

The Dow did not move triple digits in either direction last night as Wall Street awaits the election outcome. It closed down a mere 5 points.

Equity markets closed higher at the end of what has been one of their best weeks ever. The same cannot be said for metals.

The US third quarter GDP was not as bad as expected allowing the Dow to gain 190 points.

When the Dow rallied 936 points in October 13 it fell 76 points on October 14. After an 889 point rally on Tuesday the Dow fell 74 points last night. The Fed delivered a 50 point cut as expected.

For the second time this month Wall Street has provided a spectacular rally, with the Dow rising almost 900 points in the session.

The Dow fell 200 points – all in the last ten minutes – as buyers remained tentative. Base metals, however, put in some extraordinary reversals.

The Dow closed down 300 points on Friday, once again rallying 200 points from its lows. Wall Street has nevertheless been left wondering what might have been.

While much of the recent US dollar buying has been related to investors chasing safe havens other factors may see the run continue.

The Dow closed up 172 points in a late buying rush after in yet another volatile session.