How will the midterms impact the stock market?
S&P equity chief investment officer Erin Gibbs, Payne Capital Management senior wealth manager Michelle McKinnon and Kelly & Co. managing partner Kevin Kelly discuss how the midterm elections will impact the stock market.
Americans go to the polls Tuesday, in a highly contested election that could see the House flip from Republican to Democrat, FOX Business is following the issues impacting local and national economies.
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Dow Jones futures were lower by 0.04 percent. The S&P 500 slipped 0.14 percent and the Nasdaq Composite was off 0.28 percent.
All 435 seats in the United States House of Representatives and 35 of the 100 seats in the United States Senate will be contested. In addition, 39 state and territorial governorships as well as numerous other state and local elections will also be contested.
A handful of closely-followed names report earnings before the opening bell, among them some big health care players such as CVS Health, AmerisourceBergen and Eli Lilly.
After the bell watch for numbers from Wendy’s, Papa John’s and Red Robin.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25461.7 | +190.87 | +0.76% |
| SP500 | S&P 500 | 2738.31 | +15.25 | +0.56% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7328.851 | -28.14 | -0.38% |
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U.S. stocks posted a mixed session one day ahead of the midterm elections. The Dow Jones Industrial Average surged 190.87 points late in the session or nearly 1 percent, the S&P 500 also posted gains of 15.25 or 0.56 percent The Nasdaq Composite fell 0.38 percent or 28.14 points with large cap tech names pacing the declines.
Amazon, Google and Apple were among the largest decliners on the Nasdaq Composite. While IBM and Chevron both gained over 4 percent to lead the Dow.
The United States also put oil and financial sanctions against Iran back in effect on Monday. The move is to curb Iran’s missile and nuclear programs and counter its growing military and political influence in the Middle East.
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China’s shanghai down 0.2 percent.
Japan’s Nikkei managed to gain 1.1 percent.
In Europe, London’s FTSE opened up 0.1 percent, Germany’s DAX gained 0.2 percent and France’s CAC was higher by 0.1 percent.
