US Stocks Continue to Rise, Awaiting Election Results (AFP)
While the votes are counted urnsUS stocks continued to rise for a third consecutive day, pending results Elections The mid-term renewal of the US Congress, after which the attention of investors begins to shift towards the inflation data that is expected to be released next Thursday.
During official voting day trading, the Dow Jones Industrial Average rose more than 1%, while the S&P 500 and Nasdaq gained about half a percentage point, but all the excitement was in the market. Cryptocurrencies.
After gains stronger than those shown at the end of the day, the shares fell in mid-trade amid a large cryptocurrency sell-off.
Cryptocurrency prices plummeted Tuesday after the world’s two largest cryptocurrency exchanges, Binance and FTX, reached a merger deal to resolve what appeared to be an “acute liquidity crisis.”
During today’s trading, Bitcoin recorded its lowest level since November 2020, at $ 17,300, before recovering some of its losses, climbing to 18,600 after the close of the official stock market.
On the other hand, oil prices fell more than $ 2 on Tuesday due to volatile trading, amid growing concerns over fuel demand as the coronavirus outbreak deepened in China, the largest crude oil importer. and tensions over US election results.
Brent crude futures for January delivery fell $ 2.56 to $ 95.36 a barrel, a loss of nearly 2.6 percent, and US crude fell $ 2.88, or 3.14. %, at $ 88.91 a barrel at the time of settlement.
Both benchmarks hit their highest level since August on Monday, supported by reports that Chinese leaders are considering lifting the country’s stiff anti-Covid-19 restrictions.
But new cases have surged in Guangzhou and other Chinese cities, softening the prospect of easing restrictions.
Investors are eagerly awaiting consumer price data, which is expected to be released next Thursday, as hopes are set to show a decline in the rate of inflation, forcing the Federal Reserve to ease the pace of rising interest rates in the ‘ last meeting of this year, and after the meetings of 2023.
