NASDAQ futures skyrocket during 'better than expected' night for Trump

(Image credit: Spencer Platt/Getty Images)

published 4 November 2020

Americans might be on edge during election night, but the tech-heavy NASDAQ-100 was apparently loving it. Tech futures soared on "better than expected" news for President Trump early in the night, The Spectator Index reported. Around 10:15 p.m. ET, NASDAQ futures were halted for two minutes following a 3.9 percent rally:

Bloomberg's Kriti Gupta offered a little more context: "A note on the bid for tech stocks — these are cash-rich, liquid, global growth companies," she wrote. "They are essentially the creme de la creme of U.S. large cap stocks and therefore have acted as a global haven during the panic earlier this year. … But make no mistake — seeing NASDAQ futures outperform DOW or S&P 500 futures shows a defensive trade taking hold in the market."

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Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.