American futures inch up on midterm election outcomes
On Wednesday, American futures managed to ascend because midterm elections played out exactly as anticipated, with Congress divided after Democrats grasped the whole House of Representatives, although Republicans managed to take over the Senate.
As a matter of fact, the S&P 500 futures jumped by 0.75% being worth 2,779.75. Dow futures ascended by up to 0.60% ending up with 25,794.0. As for Nasdaq 100 futures, they added 1.05% showing 7,090.25.
In general, investor confidence was backed after the midterm elections because a gridlock in Congress has always provided great returns to equity markets.
The outcomes turned out to be in line with estimates.
Notwithstanding the split, US leader told that the elections happened to be extremely successful.
In addition to this, the key US bank is starting its two-day policy gathering. While no rate lift is anticipated, market participants actually expect the main US financial institution to have rates lifted in December.
Earnings season is still on, with outcomes from Twenty-First Century Fox Inc, Office Depot Inc, Qualcomm, Humana as well as many others.
Besides this, cloud communications company Twilio Inc managed to rally by up to 16.87% due to the fact its profits appeared to be higher than anticipated. Meanwhile, General Electric surged by nearly 2.44%, while Apple added 1.09%. As for Intel, it soared by up to 1.44%. Microsoft inched up by nearly 1.28%. Moreover, JPMorgan gained 0.91%.
Aside from that, Zillow Group Inc dived by 19.39% because its third quarter profit missed forecasts. Sprint Corp declined by 2.90%, DexCom Inc lost nearly 2.23%.
Gold futures headed north by up to 0.97% being worth $1,235.70 a troy ounce. As for crude futures, they surged by 0.74% trading at $62.67 a barrel.
Evaluating the purchasing power of the major American currency versus its primary counterparts the USD index slumped by 0.62% trading at 95.52.
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Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.