Stock futures rose slightly on Tuesday after investors beat the market in anticipation of the US midterm elections.
Futures tracking the Dow Jones Industrial Average rose 52 points, or 0.16%. S&P 500 futures rose his 0.18%. Nasdaq 100 futures rose 0.47%.
Lyft’s stock fell nearly 20% before going public, while Take-Two Interactive and Tripadvisor each fell more than 18% after reporting disappointing quarterly results.
The move comes a day after all major indices recorded two consecutive positive trading. The Dow Jones Industrial Average closed him 423.78 points (1.31%) higher. Meanwhile, the S&P 500 rose 0.96% and the Nasdaq Composite rose 0.85% of his.
Investors are awaiting the results of Tuesday’s midterm elections. They decide which party controls Congress and steer future policy and spending.
The market reaction could depend on whether the Republicans regain control of the House, the Senate, or both.
“The idea of [Republicans are] Getting a home back is pretty much built into the market,” said Lori Calvasina of RBC Capital Markets on CNBC’s “Fast Money” Monday. We may have a few good days or we may not have stability, but I think the S&P’s big kicker needs to bring back the Senate as well.”
Wall Street will also keep a close eye on Thursday’s consumer price index report for the latest data on how well the Fed’s rate hikes have kept high inflation in check. This measure could also indicate a path forward for central banks. A more glowing report than another forecast suggests the Fed may hike rates aggressively in December.
Earning season continues this week. on tuesday, rosetown motors, lucid group, Walt Disney When AMC Entertainment All report their latest quarterly results.
