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Monday, November 28, 2022

Wall Street chooses to extend rally in full appointment with US elections

Wall Street Chooses To Extend Rally In Full Appointment With Us Elections

Dow Jones End Average futures were up 0.19% at 32,902 points, while S&P 500 futures were up 0.21% at 3,823 points. The NASDAQ 100 futures rose 0.46% to 11,065 points.

If the rise is confirmed, it would be the third positive day for major Wall Street indices. The Dow Jones closed with a gain of 1.31 per cent in yesterday’s trading session. For its part, the S&P 500 rose 0.96% and the Nasdaq Composite rose 0.85%.

Investors await results mid term election (Mid-term) This Tuesday, that will determine which party controls Congress and guide future spending policy.

The market’s reaction will likely depend on whether Republicans win back the House, the Senate, or both., “The result that investors love most is that of a divided government, with Republicans controlling one or both houses of Congress and the legislature in Democrat hands, because it limits the ability of the Biden administration to take certain regulatory measures. will paralyze and taxes that the market doesn’t like”, explains LINK Securities Analysis Department director Juan J. fedez-figares, Conversely, “the worst that can happen is that the outcome in both houses is inconclusive and it takes weeks to determine which party controls them. This second scenario will create a lot of uncertainty and we believe will lead to an increase in US equity markets.” Will come down again.

“thoughts of [los republicanos] They’re going to be okay. The House of Representatives is very present in the market”, reflects Lori Calvasina of RBC Capital Markets in statements to CNBC. Or it won’t provide some stability, but I think they need a big boost in the S&P to get the Senate back as well.”

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The second major focus of the market points to the October CPI data which will be published on Thursday. Investors will check the report to see if the Federal Reserve’s efforts to control inflation are having an effect. More data than expected could give the Fed room to further tighten monetary policy by moving away from the ‘pivot’ or turning what markets have been speculating in recent weeks.

Pending these figures, the ten-year US debt bond offers a yield of 4.21%, which is practically unchanged compared to yesterday’s session. The two-year bond, particularly sensitive to movements in monetary policy, held steady at 4.716%.

Lyft rolled down after being cheated from the market

On the corporate front, shares of Lyft are down 18.5%, especially when it comes to active users, after the ride-hailing app company defrauded its quarterly accounts. Total active users were 20.31 million, lower than the market estimate of 21.1 million. Revenue of $1.05 billion also declined. On a positive note, revenue per active user increased to $51.88, up 13.7% from a year ago.

Activision is turning out to be a bit better for Blizzard that, while profits and sales were lower than they were a year ago, they exceeded Wall Street’s expectations. The company also announced that Call of Duty: Modern Warfare II surpassed $1 billion in worldwide sales in the first 10 days of its release, becoming the fastest-selling title in the history of the franchise. Activision Blizzard CEO Bobby Kotick expects the sale of the company to Microsoft “to close in Microsoft’s current fiscal year ending June 2023.”

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Groupon has reported that third-quarter revenue declined 33% compared to a year ago. Global revenue during the third quarter was $144.4 million, while global billing was $433.9 million. Groupon has also detailed additional cost-cutting measures, saying the company is “well on track” to achieve its goal of reducing its cost structure by $150 million annually and adding “an additional $50 million.” Identifying cost savings”. Cost action by the end of 2023.”

The season for quarterly results is practically over, but there are still relevant companies to present their accounts, the cases of Walt Disney and AMC Entertainment.

Oil prices fell on Tuesday on fears of lower demand from China, as the market had forecast in recent days, after the country’s officials denied any intention to ease the strict zero-Covid policy. West Texas crude fell 1.36% to $90.69, while benchmark European Brent oil futures fell 0.91% to $97.05.

The dollar is back on the ground today to place the currency cross at $0.9994 for each community currency against the euro by 0.3%. The bitcoin register is down 4.6% over the past 24 hours and is once again below $20,000, at $19,735.

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