Tuesday , May 17 2022

Wall Street before the election result – 06/11/2018 22:08:29


Wall Street ends

Wall Street ended on Tuesday with a low cycle, as investors did not want to sign until the mid-election elections came out.

Good corporate results and a recovery in high-tech stocks on cheap purchases supported the price.

The Dow Jones Industrial Average gained 173.31 points, or 0.68%, to 25,635.01 points. The S & P 500 index gained 17.14 points, or 0.63%, to a level of 2,755.45 points. The Nasdaq Composite Index rose by 48.95 points (0.67%) at 7377.80 points.

"It's really a weak market before the election, volumes are 22% below their moving average 20 days," said Michael Antonelli (Robert Baird) at the meeting.

"It was used after the carnage of the technicians and so the market went very fast."

In the light of polls, the Republicans will lose the House of Representatives, which will embarrass President Donald Trump and his pro-corporate policy.

Some investors have said that the stock market may suffer strong sales if the Democrats took both Houses of Congress; It would be the opposite if Republicans managed to keep control of the House of Representatives because investors would then hope to see additional tax cuts.


Apple gained 1.08% after suffering a loss in two days on Friday and Monday, the highest in two days since January 2013. This allowed the technology index to grow by 0.61%.

The commodities sector (+ 1.51%, the best sector growth of the day) benefited from the good results of Mosaic and FMC, a building materials manufacturer, which gained 10.6% and 3%, respectively.

The industrial sector surged 1.1% in response to the US and China holding talks in Washington on political and security issues Friday to ease trade tensions between the two countries.

Meilan jumped 16.1% on third-quarter profit because it beat the consensus and increased the health sector by 0.52%.

Today's indices

Business growth in the US services sector slowed less than expected in October, according to a survey conducted in May.

The seat in Europe

European stocks ended on Tuesday as Wall Street remained in green, awaiting the results of the mid-term elections in the US, which will be essential to Donald Trump's continued tenure.

European equity markets were also penalized by disappointing earnings from the companies and the Eurozone Purchasing Managers' Index, confirming that growth fell last month to its lowest level in two years.

In Paris, the CAC 40 ended in a 0.51% drop to 5.075.19 points. British FTSE lost 0.89% and German DAX 0.09%. The EuroStoxx 50 index fell by 0.31%, the FTSEurofirst 300 and the Stoxx 600 by 0.26%.

(Sruthi Shenkar Sinéad Caro Stephanie Kelly, Wilfried Exbrayat for French service)

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