Wall Street is turning green as it awaits what US opinion polls will dictate.
V Jelection ceremony this TuesdayMajor US stock indices closed higher, reflecting investor optimism pending the results of the presidential elections. Although the final results will be known early in the morning in Europe, the market showed positive dynamics throughout the day.
He Dow Jones Industrial Average (DIA) closed at 42,221.88 points, registering iIncrease of 1.02%. The result marks the index’s sixth consecutive gain on Election Day since 1984, consolidating the historical trend of gains on that day. The SPDR S&P 500 ETF Trust (SPY) hit 5,782.81, up 1.23%. while Invesco QQQ Trust Series 1 (QQQ), which follows to the Nasdaq, closing at 18,421.01 points, an increase of 1.43%.. These movements reflect the market’s confidence in the country’s economic and political stability during the election process.
Historically, American indices showed positive dynamics on election day. Since 1984, the Dow Jones and S&P 500 have risen on this day, and the Nasdaq has risen in five of the last six presidential elections. This pattern suggests that investors often expect favorable results or political stability, which encourages buying in the market.
In addition to elections, investors are paying attention to The next Federal Reserve meeting is scheduled for tomorrow and Thursday. The Federal Open Market Committee (FOMC) is expected to announce a quarter percentage point cut in interest rates, placing them in a range of 4.5% to 4.75%. This decision will be in line with market expectations and will reflect the Fed’s confidence in current economic stability. According to an article in El País, the Federal Reserve already announced in September its intention to make two additional rate cuts of 0.25 points before the end of the year.