- Title: Wall St jumps 2 pct amid relief after U.S. midterm elections
- Date: 7th November 2018
- Summary: NEW YORK, NEW YORK, UNITED STATES (NOVEMBER 7, 2018) (REUTERS) (SOUNDBITE) (English) FTSE RUSSELL GLOBAL MARKETS RESEARCH, MANAGING DIRECTOR, ALEC YOUNG, SAYING: "It's certainly a relief for markets, just to get through the uncertainty of who is going to win the elections. There are certainly other bigger macro issues out there besides the politics. But I think investors are breathing a sigh of relief just to get the uncertainty over with. So not surprised to see a positive tone in the markets today, after the election. And I think another positive force that people should think about is the idea that, now that the president has lost the majority in the House of Representatives, it may be a little bit more difficult for him to push through stimulative legislation, now that he doesn't have control of both houses of Congress. So he may be more inclined to compromise and do a Chinese trade deal, which, obviously, is a big macroeconomic focus for markets."
- Embargoed: 21st November 2018 21:21
- Keywords: Alec Young S&P 500 Wall Street technology Dow congressional elections energy Nasdaq financial FTSE Russell
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA00295ICEX9
- Aspect Ratio: 16:9
- Story Text: U.S. stocks ended more than 2 percent higher on Wednesday (November 7) with broad gains led by the technology and healthcare sectors as investors, relieved to have midterm elections behind them, made bets that a divided Congress would be good for equities.
Based on the latest available data, the Dow Jones Industrial Average rose 545.29 points, or 2.13 percent, to 26,180.3, the S&P 500 gained 58.36 points, or 2.12 percent, to 2,813.81 and the Nasdaq Composite added 194.79 points, or 2.64 percent, to 7,570.75. - Copyright Holder: REUTERS
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