Global markets: Stocks wobble as investors watch US midterm elections
SPY•Global stocks wobbled as investors watched the US midterm elections, with the S&P 500 up 0.36% and the Nasdaq up 0.83%, while the Dow fell 0.38%. Brent crude settled 1.12% lower at $103.60 a barrel, and the US 10-year Treasury yield rose 5.36 basis points to 4.948%.
1. US stocks diverge
The S&P 500 and Nasdaq ended higher on Tuesday, led by industrial, technology and communication services shares, while consumer staples and materials shares weighed on the market. The Dow fell 0.38%, the S&P 500 gained 0.36% and the Nasdaq rose 0.83%.
2. Election and oil focus
Investors watched the US midterm elections. Polls and nonpartisan analysts expected Democrats to win the House, while control of the Senate remained uncertain; a Democratic sweep could bring tougher AI oversight and more corporate regulation. Brent crude fell 1.12% to settle at $103.60 a barrel after President Donald Trump said he had agreed to stop $4 billion in funding to Israel at year-end.
3. Yields edge higher
The US 10-year Treasury yield rose 5.36 basis points to 4.948%, and the benchmark German 10-year Bund yield increased 1.39 basis points to 3.33%. Gold edged up 0.05% to $3,930.04 an ounce, while the dollar index was flat.
