US stock futures rise, Tesla rises in early trading as markets react to election

As votes in the US presidential election were counted early Wednesday morning, Dow futures rose, the US dollar strengthened and international markets were mixed.

Dow Jones Industrial Average futures were up about 2.6% by 4:30 a.m. in New York, after rising sharply since a 1.7% gain at around 2 a.m. in Florida took the stage of former President Donald Trump

S&P 500 futures traded about 2% higher early Wednesday, while futures for the tech-heavy Nasdaq market gained about 1.6%. Shares of Tesla, the electric vehicle company owned by Trump ally Elon Musk, rose about 13% in premarket trading.

Markets in the US rallied on Tuesday, led by the Nasdaq's 1.4% rise.

As Trump took the stage in Florida early Wednesday, the dollar was strengthening. The U.S. dollar index rose about 1.4% to 104.75, reaching levels not seen since early August. Yields on 10-year and 2-year Treasury bonds also rose overnight.

Trading in Asia was mixed on Wednesday as international markets digested the election results. Japan's Nikkei closed up 2.61% on the day, while Shanghai closed almost flat, down just 0.09%.

Hong Kong's Hang Seng Index fell, falling 2.23% by the close after opening below Tuesday's close.

Britain's FTSE 100 index rose early Wednesday, rising about 1.43% shortly after the open. Germany's DAX saw a similar rise, rising about 1.3% in morning trading.