US chem shares jump on Election Day as Dow rises 2.06%

HOUSTON (ICIS)–US-listed shares of chemical companies rose modestly on Tuesday even as the Dow Jones Industrial Average jumped by more than 2% on Election Day.

The table below shows the major indices followed by ICIS.

	3-Nov	Change	%
Dow Jones Industrial Average	27,480.03	554.98	2.06
S&P 500	3,369.16	58.92	1.78
Dow Jones US Chemicals Index	665.91	7.44	1.13
S&P 500 Chemicals Industry Index	674.99	6.73	1.01

CNBC reported that the gains came as investors expected that the election will result in a clear, undisputed winner. In the election, President Donald Trump is running against challenger Joe Biden.

Oil markets also rose as shown in the following table.

	3-Nov	2-Nov	Change	%
Brent	39.71	38.97	0.74	1.90%
WTI	37.66	36.81	0.85	2.31%

Prior to Tuesday’s rally, US stock markets had sharp sell-offs on 26 October and 28 October as coronavirus cases and hospitalisations had started rising in the US.

US-listed chemical shares did not rally as strongly as the general stock market.

The table below shows the shares followed by ICIS.

	$ Current  Price	$ Change	% Change
AdvanSix	15.65	0.05	0.32
Avient	32.85	0.70	2.18
Axalta Coating Systems	25.78	0.14	0.55
Braskem	8.00	0.11	1.39
Celanese	118.62	1.12	0.95
Dow	48.73	0.91	1.90
DuPont	59.61	0.81	1.38
Eastman	84.63	1.31	1.57
HB Fuller	48.56	1.93	4.14
Huntsman	24.93	-0.10	-0.40
Ingevity	59.20	2.01	3.51
Kraton	28.44	0.00	0.00
Kronos Worldwide	13.91	0.29	2.13
LyondellBasell	72.86	0.95	1.32
Methanex	30.11	0.60	2.03
NewMarket	362.25	-0.30	-0.08
Olin	18.37	1.07	6.19
PPG	136.86	1.68	1.24
RPM International	88.15	0.04	0.05
Sherwin-Williams	710.09	0.79	0.11
Stepan	118.71	1.00	0.85
Chemours	21.76	0.88	4.21
Trinseo	34.02	0.79	2.38
Tronox	11.27	0.59	5.52
Univar	18.17	0.60	3.41
Venator	1.99	0.02	1.02
Westlake	74.01	3.08	4.34

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