US election: Trump lead narrows in Michigan, 49.4% vs. 48.9% with 86% of votes tallied

In Michigan, with 86% of expected votes tallied, President Donald Trump has 49.4% and former Vice President Joe Biden has 48.9%, Reuters reported, citing Edison Research.

Earlier in the day, Trump's lead was 52% in the state with 79% of votes tallied and the narrowing gap seems to be helping the market sentiment improve ahead of the American session.

Market reaction

The US Dollar Index extended its slide and was last seen posting small daily losses at 93.30. Meanwhile, the S&P 500 futures are up 1.2% on the day at 3,401.