Results from the French presidential elections over the weekend, in which centrist Emmanuel Macron and far-right Marine Le Pen came out on top, lit a fire under global equity markets, causing rallies around the world.
France's CAC 40 gained an impressive 4.14%, while the Stoxx Europe 600 rose 2.11%. The Europe Dow rose an incredible 4.71%. Gains weren't limited to Europe either, with all of Asia (except China) gaining as well. The Asia Dow climbed 0.65% and this, combined with gains elsewhere, caused the Global Dow to rise 2.08%.
Here in the US the story was much the same, with all major averages heading higher right out of the gate. The Industrials added 216 points to 20,765 (a 1.05% rise). The Transports did better, up 1.63% while the Nasdaq gained 1.24% and the S&P 500 climbed 1.08%. All around quite a good day for anyone long equities.
Treasuries sold off as investors moved into ... Log in or subscribe to continue reading.