Wall Street surged overnight following a Democratic sweep of the US midterm elections, while oil prices plummeted after JD Vance linked the Republican defeat to the war in Iran. The rally is set to flow through to the ASX, which is poised for a strong open after yesterday's losses. Plus, why investors' optimism over the election result could prove premature.

*This episode was recorded with two hours of trading to go on Wall Street*

Join James Gruber, Equity Market Strategist and James Tao, Equity Market Commentator at CommSec, as they take you through all the key numbers.

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The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.