Markets expected to get a short-term boost after Trump survives shooting

U.S. stocks are expected to get a short-term boost in the aftermath of the failed assassination of former president Donald Trump over the weekend, as analysts say the likelihood of his re-election in November has increased.

U.S. futures rose overnight as investors reacted with "relative optimism" to the prospect of a second Trump presidency, Rob Casey, partner at markets advisory firm Signum Global Advisors, told CNBC's "Squawk Box Europe."

Crypto markets also rallied — with bitcoin rising as much as 5% Monday to top $63,000 — on hopes of a more positive landscape for the digital asset under a Trump presidency.

"The events on Saturday, if they do anything, they strengthen the case for President Donald Trump to win the election in November. I think that's what the markets have reacted to," Casey said.

Polls showed Trump retaining his lead over President Joe Biden a day after the shooting at a Republican rally in Pennsylvania. Betting odds, meanwhile, surged.

It follows already dwindling support for Biden, even among his Democratic voter base, amid concerns over his cognitive abilities. Casey said the weekend's events also provide a reprieve for Biden, who has been under pressure to stand down, and all but guarantees his candidacy in November.

Risk consultancy firm BMI, part of Fitch Solutions, said in a note to CNBC that Trump's odds of winning the election had risen significantly, which "could be positive ahead of the election as it reduces electoral uncertainty." But it added that any boost was likely to fade.

Guillaume Menuet, head of investment strategy and economics for EMEA at Citi Global Wealth, agrees. He told CNBC that the weekend's events were likely to drive markets for a "couple of days" before investor attention