US equity futures saw a notable increase on Wednesday, following Donald Trump's victory over Kamala Harris in the US presidential election. The Dow Jones Industrial Average futures surged by 3.2%, while S&P 500 futures climbed 2.3%, and Nasdaq futures experienced a rise of 1.7%. Trump's election marked him as the 47th US president, as he successfully secured at least 277 Electoral College votes, surpassing the necessary 270, as reported on Wednesday morning.

In contrast, oil prices faced a decline, with the front-month global benchmark North Sea Brent crude falling by 2% to $74.00 per barrel, and US West Texas Intermediate crude decreasing by 2.3% to $70.34 per barrel. The Federal Open Market Committee is set to begin its two-day policy-setting meeting this Wednesday..