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US Stock Markets hit gains for the third day in a row amid midterm election

09 Nov,2022
US Stock Markets hit gains for the third day in a row amid midterm election

Wall Street closed with a peak on Tuesday amid the midterm election day, this is the third day in a row where the US stock market hit earnings.

The voting will mould the dominance on the U.S congress, meanwhile investors predict that political gridlock may halt big policy shifts.

The ballot comprises 435 House of Representative seats and 35 Senate seats, it may take days before the reveal of the winners of this rivalry.

Some predictions and polls assume that there is a likelihood that Republicans will win a House majority and tight rally for Senate dominance.

The market strategies assume that the winning of Democrats may raise worries on the regulation of the technology sector and the budget that could put on the already peaked inflation.

Investors will be looking at key inflation data tomorrow, that is envisioned to reveal lower consumer prices and give more signs on whether the Fed is willing to ease its aggressive rate raise.

The Nasdaq Composite rose to 51.68 points or 0.49% at 10,616.20. The S&P 500 gained 21.31 points or 0.56% at 3,828.10 and the Dow Jones Industrial rose to 333.83 points or 1.02% to 33,160.84.

Speaking of the 11 S&P 500 sector indexes, 10 out of the 11 sectors peaked, led by materials, up 1.72%, trailed by 0.92% earnings in the information technology.

 

 

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