The midterm elections drove up Wall Street

Tomorrow Americans will go to the polls to choose the people elected to both houses of the US National Assembly – Congress. Major indexes on Wall Street rose in anticipation, as well as key inflation numbers due for release on Thursday.

The S&P 500 rose 0.98 percent to 3807.13, while the Nasdaq Tech Index rose 0.85 percent to 10564.52. The heavy industry’s Dow Jones was the gainer today, after rising 1.31 percent to 32,829.18.

Republican candidates have gained traction in the polls, and analysts predict the most likely outcome for a divided government – with Republicans winning the House and possibly the Senate.

The probability of Republicans taking over the House or Senate is very high, and thus guarantees a kind of “stalemate” over the next two years. After that, tax increases and any kind of big spending that could be seen as inflationary will likely be left out, Baird investment analyst says for Reuters.

October consumer price data will be released on Thursday. This will give investors clues about the extent to which rapid interest rate increases by the Federal Reserve have helped cool the economy.

movements

Shares of the largest technology companies moved mixed throughout Monday. The owner of Facebook Meta, Amazon, Apple, Netflix and Alphabet (the parent company of Google), also known as FAANG shares, had a mixed day on the exchange:

• Facebook rose 6.53 percent to 96.72.
• Amazon shares fell 0.49 percent to 90.53 points.
• Apple shares rose 0.39 percent to 138.92 points.
• Netflix shares fell 0.84 percent to 258.60.
• Alphabet shares rose 2.21 percent to 88.49.

apple It fell after the company announced a temporary reduction in iPhone 14 production due to Corona restrictions in Zhengzhou. More specifically, it concerns a factory in Zhengzhou operated by Foxconn with “significantly reduced capacity”.

Facebook owner dead A move after it became known that the company would begin to significantly reduce its size. The share is also down more than 70 percent so far this year.

Among other solo moves, Warren Buffets rose Berkshire Hathaway 1.5 percent after it presented quarterly figures on Saturday. The bottom line was that operating income was up 20 percent, but the bottom line was red as a result of significant losses on equities and derivatives. In the report, the group also announced that it would increase its buyback and dividend program.

used car company mobile home It extended its decline on Monday after it provided quarterly numbers last week and fell 15.83 percent to 7.39.

oil

Oil prices moved up and down all day Monday after mixed signals from China on whether to ease coronavirus measures.

Brent crude fell 0.59 percent to 98.03 percent, while West Texas Intermediate crude fell 0.68 percent to 91.98.