Traders Betting Big on Hillary to Win

According to Reuters, U.S. stocks rose for a second straight session on Tuesday as investors bet Democratic candidate Hillary Clinton would win the U.S. presidential election. Wall Street sees the former secretary of state as a status quo candidate lending stability to the markets, while Republican candidate Donald Trump’s stances on foreign policy, trade and immigration are less certain.

Data company VoteCastr, which is providing real-time election information through news outlets, including Slate, showed Clinton with an early lead among voters in Florida, a must-win state for Trump. Several investors said VoteCastr’s data pushed stock prices higher, although many questioned its accuracy. Clinton has a 90 percent chance of defeating Trump, according to the final Reuters/Ipsos States of the Nation poll released on Monday.

“The market’s betting that a Clinton victory will lift the cloud of uncertainty we’ve been facing the last two weeks,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “We’re basically back to where we were last week. The market had gotten oversold.”

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