© Reuters.
By Liz Moyer
Investing.com — U.S. stocks were rising as investors await the midterm election on Tuesday, which could determine which party controls the next Congress.
At 9:44 ET (14:44 GMT), the was up 144 points, or 0.5% while the rose 0.3% and the was flat.
A split government could pose an additional challenge to President Joe Biden’s ability to advance his agenda. Republicans have momentum going into Tuesday’s official election day, but a number of races still are extremely close.
Later this week, investors will see data for October, which could be another input as the Federal Reserve decides the next course of action on raising interest rates to tame inflation. Last week, the showed the economy created more jobs than expected last month, but the ticked up slightly.
The Fed has by a 0.75 percentage point at each of its past four meetings, but now the odds are growing that it will begin to ease off that aggressive stance. Some people are rates to rise a 0.5 percentage point at the Fed’s December meeting.
Shares of Apple Inc (NASDAQ:) fell 1.4% after it said it will expect smaller shipments of its top iPhone 14 models than it previously forecast. Meta Platforms Inc (NASDAQ:) shares rose more than 3% on reports it plans to lay off employees this week.
Oil dipped. were down 0.1%, to $92.55 a barrel, while crude fell 0.1% to $98.44 a barrel. rose 0.3%, to $1681.
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