Morning Report 06 Nov 24: Wall Street gains on U.S. election day as tech and chip stocks rise

CommSec Market Update

U.S. stocks are moving higher as the final votes for the presidential election are cast. All sectors in the S&P 500 are up, led by Palantir Technologies, which reached a record high on positive guidance. Meanwhile, U.S. bond yields are advancing as betting markets lean towards a Trump victory. Iron ore has climbed to a two-week high on expectations of additional stimulus from China, while copper hit a three-week high, supported by a weaker U.S. dollar. Closer to home, the RBA still sees inflation as sticky but notes strong job growth, and Aussie shares are expected to rise, supported by strong commodity prices.

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