US STOCKS-S&P 500 futures surge as Trump leads in Florida

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* S&P futures last up in volatile trade
* Investors want decisive result and path to stimulus

(Updates with market moves after the bell)
By Noel Randewich
Nov 3 (Reuters) - U.S. stock futures jumped late on Tuesday
as President Donald Trump narrowly led Democratic rival Joe
Biden in the vital swing state of Florida, with investors hoping
for a quick resolution that clears the way for fiscal stimulus
to help the coronavirus- stricken economy.
S&P emini futures EScv1 were last up 1.9%, extending a
rally during the official trading session in which the S&P 500
delivered its strongest one-day gain in almost a month.
On betting website Smarkets, odds reflected a 74% chance of
Trump winning, up from 33% earlier in the day.
Investors for months have said they favor a definitive, fast
resolution to the election, rather than a drawn out process that
many have feared. Quickly settling the election would clear the
way for a deal on a stimulus package to help the damaged U.S.
economy. Early results also suggested the Democrats were less likely
than previously expected to take the Senate from Republicans in
a so-called blue wave.
"The best case is going to be a gridlock either for a Biden
or Trump presidency. I think the market is repricing its
assumptions," said Thomas Hayes, Chairman of Great Hill Capital
in New York.
Some analysts said the market's strong gains earlier in the
day also reflected a rebound from a selloff last week, the
biggest weekly percentage decline for the S&P 500 in over seven
months.
On election night 2016, U.S. stock index futures plunged as
Trump pulled off an upset victory against Democrat Hillary
Clinton. However, the next day marked the start of the so-called
"Trump rally" that saw the S&P 500 jump 5% in a month, fueled by
promises of massive tax cuts and financial deregulation.
In Tuesday's trading session, the Dow Jones Industrial
Average .DJI rose 2.06% to end at 27,480.03 points, while the
S&P 500 .SPX gained 1.78% to 3,369.02.
The Nasdaq Composite .IXIC climbed 1.85% to 11,160.57.
The CBOE Volatility index .VIX , Wall Street's fear gauge,
touched a one-week low after hitting a 4-1/2-month high last
week.

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"Biden" shares vs "Trump" shares https://tmsnrt.rs/3881PWc
Markets under different presidents during history https://tmsnrt.rs/3p35jj4
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