{"id":136761,"date":"2018-11-07T06:22:17","date_gmt":"2018-11-07T11:22:17","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136761"},"modified":"2018-11-07T06:22:17","modified_gmt":"2018-11-07T11:22:17","slug":"us-stock-market-rises-ahead-of-elections-results","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/us-stock-market-rises-ahead-of-elections-results\/","title":{"rendered":"US stock market rises ahead of elections results"},"content":{"rendered":"
November 7, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq joins Dow and SP500 rally<\/h2>\n<\/div>\n<\/div>\n

US equities <\/b> rebound continued on Tuesday ahead of results of midterm elections. The S&P 500 <\/em> gained 0.6% to 2755.44. Dow Jones <\/em> industrial average rose 0.7% to 25635.01. The Nasdaq <\/a> composite index added 0.6% to 7375.96. The dollar weakening continued despite strong labor market data: there were 7 million job openings in the US in September, after a 7.3 million in August. The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, slipped 0.1% to 96.241 and is lower currently. Futures on stock indices indicate higher openings today.<\/p>\n

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Polls suggested the Democrats would take the House of Representatives while the Republicans will retain control of the Senate. And results show Democrats won control of the House of Representatives. Analysts don\u2019t expect such a gridlock may derail the US economic growth based on historic market performance. However some point that gridlock in Washington makes more tax cuts, which Trump has called for, very unlikely.<\/p>\n

\"SP500<\/p>\n<\/div>\n<\/div>\n

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European indices opened higher<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> pullback continued on Tuesday despite positive reports: euro-zone data showed a narrow beat for composite and services PMIs for October, and the producer price index accelerated its gains in September. Both the EUR\/USD <\/em> and GBP\/USD <\/em> continued rising and are higher currently. The Stoxx Europe 600 lost 0.3%. The German DAX 30 <\/a> slipped 0.1% to 11484.34. France\u2019s CAC 40<\/em> slid 0.5% while UK\u2019s FTSE 100 <\/em> fell 0.9% to 7040.68. Indices opened 0.3% – 0.5% higher today.<\/p>\n

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Australia\u2019s All Ordinaries Index best performer among Asian indices<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today. Nikkei <\/em> ended 0.3% lower at 22085.80 as yen strengthened against the dollar. Chinese stocks are lower as US trade dispute is back in focus after elections uncertainty resolved: the Shanghai Composite Index <\/em> is down 0.7% and Hong Kong\u2019s Hang Seng index <\/em> is 0.2% lower. Australia\u2019s All Ordinaries Index extended gains 0.4% despite continuing Australian dollar climb against the greenback.<\/p>\n

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Brent <\/a> edges up<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging higher today. Prices fell yesterday after the Trump administration granted waivers to eight nations to continue importing Iranian crude despite re-imposed US sanctions against the Islamic Republic. The American Petroleum Institute reported late Tuesday that US crude inventories rose by 7.8 million barrels last week to 432 million. January Brent fell 1.4% to $72.13 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Nasdaq joins Dow and SP500 rally US equities rebound continued on Tuesday ahead of results of midterm elections. The S&P 500 gained 0.6% to 2755.44. Dow Jones industrial average rose 0.7% to 25635.01. The Nasdaq composite index added 0.6% to 7375.96. The dollar weakening continued despite strong labor market data: there were 7 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-136761","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=136761"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136761\/revisions"}],"predecessor-version":[{"id":136767,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136761\/revisions\/136767"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=136761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=136761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=136761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}