Market Insider

Markets call a draw on 2nd presidential debate

The second presidential debate in 60 seconds

No clear winner emerged from the second U.S. presidential debate Sunday night, based on several analysts' interpretation of market reaction — or lack thereof.

"I think the market declared it a draw and has no more clue after debate then before, at least not in watching the S&P futures," said JJ Kinahan, chief strategist at TD Ameritrade.

U.S. stock index futures held slightly higher near earlier levels throughout the entire debate. S&P 500 futures were about 5 points higher and Dow Jones industrial average futures were about 31 points higher, as of 11:08 p.m. ET.

"I don't think she knocked him out because the market would be indicating a lot higher," said Dan Veru, chief investment officer at Palisade Capital Management.

"I think people don't care about what Trump said and they do care about Clinton's policies," he said. "It seems clear what she says and what she does are two different things."

On Friday, excerpts from documents posted online by WikiLeaks portrayed Clinton as more comfortable with Wall Street and free trade policies than she has indicated in her public campaign speeches. Meanwhile, a leaked video from 2005 of Trump's vulgar remarks about women stirred uproar around the Republican candidate's presidential campaign.

The Mexican peso, seen by many as a proxy on the market view of the U.S. presidential election, gained against the U.S. dollar on the news. On Sunday, the peso briefly traded as much as 2 percent stronger against the U.S. dollar before trimming gains to levels from before the debate.

"I think Trump did better in this debate than he did in the first debate," said Carl Forcheski, director of corporate FX sales at Societe Generale.

"I don't think the debate was a huge game changer but it got a little personal and a little dragged down into the mud a bit but not as much as I was expecting," he said.

As for markets, Veru expected news about Apple to be a major factor for Monday's trading session.

Sunday evening Eastern Time, South Korea's Yonhap News Agency reported, citing an unamed source, that Samsung Electronics has suspended production of its Galaxy Note 7 smartphones following reports of fires in replacement devices.