US stocks rally as markets brace for midterm elections
United States stock markets opened in the green Tuesday as investors prepare for the 2022 midterm elections in the country. In addition, market participants are also awaiting the latest data on inflation in the country to be released tomorrow.
The results of this election are critical in determining how spending will behave in the coming years. Analysts indicate that a Republican victory in the Senate may calm the markets. In contrast, a Democratic victory in both chambers could add to volatility.
The Dow Jones gained 125 points or 0.35% at 9:31 am ET, with Amgen rising 2.95%. The Nasdaq 100 added 0.34%, while Nvidia was leading the gains, improving by 3.04%. A minute later, the S&P 500 edged up by 0.06 %, as SolarEdge Technologies Inc. rocketed by 17.67%. The euro was down by 0.13% against the dollar at 9:28 am ET, selling for $1.00072.