NASDAQ Outperforms Even With Election Result Uncertain

Price action was choppy overnight, with swings in betting market odds re: who will take the White House in the driving seat. Trump is now the favourite, although general perception is that the race is tighter than the betting markets imply, with a more drawn out process set to play out over the coming days (if not weeks). Anyhow, tech has outperformed in the U.S. equity space, as evidenced by the NASDAQ 100 contract.

• Asia-Pacific equity markets were a little more mixed, with some caution evident on the back of the Ant Group IPO fiasco. Elsewhere, Australian financials were hampered by yesterday's round of easing from the RBA and subsequent rate cuts across loan and mortgage products at the big banks.
• S&P 500 futures +23, DJIA futures +23, NASDAQ 100 futures +270.
• Nikkei 225 +1.9%, Hang Seng unch., CSI 300 +0.5%, ASX 200 -0.3%.