Australia

Australian shares are set to open higher, after corporate results drove US stocks higher on election day.

ASX futures were up 0.74% or 61 points as of 8:30am on Wednesday, suggesting a higher open.

US investors shrugged off uncertainties stemming from the election and flocked to stocks, apparently driven by robust corporate results.

Palantir Technologies gained 23% as the AI software provider beat expectations and raised guidance. Enginemaker Cummins rose 9% also on better-than-expected results.

Consumer discretionary led the S&P 500 sectors, followed by industrials.

The three major indexes all rose more than 1%, with Nasdaq closing at 18,439, S&P 500 at 5,783 and the DJIA at 42,222.

In commodity markets, Brent crude oil was up 0.8% to US$75.68 a barrel, while gold was up 0.3% to US$2,744.60.

The Australian dollar was at 66.32 US cents, up from its previous close of 65.84.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index rose 2.3% to 3,386.99, and the Shenzhen Composite Index added 3.2% to 2,047.77.

Hong Kong shares ended higher. The benchmark Hang Seng Index gained 2.1% to 21,006.97.

Japanese shares closed higher. The Nikkei Stock Average increased 1.1% to 38,474.90.

India shares ended higher. The BSE SENSEX rose 0.9% to 79,476.63.

Europe

Stocks in the U.K. finished lower. The FTSE 100 Index lost 0.1% to 8,172.39.

In Europe, shares closed higher. Germany's DAX added 0.6% to 19,256.27, and France's CAC 40 gained 0.5% to 7,407.15.

North America

U.S. stocks ended higher. The DJIA increased 1.0% to 42,221.88, the S&P 500 rose 1.2% to 5,782.76, and the Nasdaq added 1.4% to 18,439.17.

Among S&P 500 companies, the top three gainers were Palantir Technologies Inc, surging 23.50%, Cummins Inc jumped 8.88%, and Emerson Electric Co lifted 7.16%.

The biggest decliners were Celanese Corp which dropped 26.32%, Wynn Resorts Ltd fell 9.34%, and Archer-Daniels Midland Co lost 5.97%.