From CNBC's "Stock futures nudge higher as Wall Street awaits U.S. midterm elections" posted early Tuesday:
Stock futures were slighter higher Tuesday morning evening following a winning day for markets as investors looked ahead to U.S. midterm elections on Tuesday...
Investors are awaiting Tuesday’s midterm election results. They will determine which party controls Congress and steer future policy and spending.
Any market reaction will likely hinge on whether Republicans take back the House of Representatives, the Senate or both.
“The idea that [Republicans are] going to take back the house is pretty much baked into the market,” said Lori Calvasina, RBC Capital Markets on CNBC’s “Fast Money” on Monday. “I’m not saying it won’t be a good thing, that we won’t have a few days of feeling good or that it won’t provide some stability, but I think for a big kicker in the S&P they need to take back the Senate as well.”
Wall Street will also closely watch Thursday’s consumer price index report for the latest data on how much the Federal Reserve’s interest rate hikes have tamed high inflation. This reading could also signal the central bank’s path forward – another hotter-than-anticipated report could embolden the Fed to raise rates aggressively in December.
Charts: Yahoo!Finance sees a bearish price-crosses-moving-average pattern. Max pain moves down $2 to $142 with the same call mountain at $150 and a new towering put peak at $125 (up $5).
(Very much /s….)
Amen to that!
Long Apple!
Wishing everyone a safe and effective use of your rights to vote.