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U.S. stock futures and an array of risky assets climbed on Tuesday morning, reflecting possible optimism toward the prospect of a re-election of President Donald Trump.
Technology problems and reporting inconsistencies kept Iowa Democratic Party officials from releasing results from Monday’s caucus. Sen. Bernie Sanders, the Vermont independent, released figures showing he was in front, while the former mayor of South Bend, Ind., Pete Buttigieg, said “by all indications, we are going on to New Hampshire victorious.”
Trump meanwhile is likely to be cleared by the Senate on Wednesday.
Jim Cramer, the “Mad Money” host, tweeted that the political situation was what was driving stock futures higher.
Futures on the S&P 500 ES00, +1.15% climbed 1% to 3,278.70, and Dow industrials YM00, +1.11% futures rose 276 points.
Commodities also surged. Oil futures CL.1, +1.92% rose by over $1, with light sweet crude trading over $51 a barrel. Copper futures HG00, +2.17% climbed by nearly 3%.
The Dow Jones Industrial Average DJIA, +0.51% closed 143 points higher on Monday, in its best one-day performance since Jan. 28. Manufacturing data came in surprisingly strong.
