US markets surged overnight on news the impartial FBI found nothing wrong with Clintons emails.
The news broke during our session though which saw the lovely rally, but futures are subdued today in anticipation of the election tomorrow our time.
The Dow Jones industrial average rose approximately 350 points, withGoldman Sachs and UnitedHealth contributing the most gains to the tune of 32 points and 26 points, respectively.
"This is mostly a political-relief rally. The market tends to favor a divided-control scenario [in government] and this raises those odds," said Bruce McCain, chief investment strategist at Key Private Bank. "This is a week to settle out the election and then we'll see where investors turn their attention to."
The S&P 500 advanced 2 percent, as financials and health care led all sectors higher, and was on track to snap a nine-day losing streak, its longest since December 1980. The Nasdaq composite outperformed, rising 2.3 percent.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded 17.5 percent lower, near 18.6, and was on track to snap a nine-day winning streak. 1
In oil markets, U.S. crude gained 1.84 percent to $44.88 per barrel, boosted by a commitment from OPEC to stick to a deal to cut output, but prices remained more than $7 below last month's high due to persistent doubts over the feasibility of the group's plan.
Gold prices ended the U.S. day session sharply lower Monday. The big development in the world marketplace Monday was weekend news the FBI cleared U.S. presidential candidate Hillary Clinton of any criminal charges regarding her personal email server. That put risk appetite back into the marketplace bigtime, just one day ahead of the U.S. election. 2
