A split government, with a Democrat in the White House, has historically been favorable for stock markets.
The S&P 500 has posted a gain in every 12-month period after the midterm vote since World War Two, according to Deutsche Bank.Though a surprise victory for Democrats could raise concerns about tech-sector regulation as well as budget spending that could add to red-hot inflation, according to market strategists.
With the election outcome still uncertain, investors were focusing on Thursday’s inflation data, which is expected to put the limelight on the Federal Reserve’s tightening cycle. “CPI is one of the more important inputs in terms of the inflation environment. You’d be hard pressed to find many investors that want to make a big bet in front of ,” said Hogan.
Traders currently see a 57% chance of that the Fed would raise rates by 50 basis points in December to 4.25%-4.5%, according to CME Fedwatch tool., or more than 11,000 employees, in one of the biggest tech layoffs this year.Share this article:
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