US stock futures reverse gains as midterm results signal possible Democratic sweep of Congress
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓US stock futures fell as early midterm vote counts pointed to a possible Democratic sweep of Congress.
- ✓Contracts for the S&P 500 dropped 0.3% while the dollar weakened.
- ✓Andrew Ticehurst said, “Early headlines and prediction markets are suggesting a rising probability of a blue wave.” Markets reacted to this news.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
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US equity-index futures fell and the dollar weakened as early midterm vote counts and prediction markets pointed to rising chances of a Democratic victory, raising the prospect of gridlock in Washington. Treasuries gained.
Contracts for the S&P 500 Index dropped 0.3%, erasing an initial gain of 0.5%, while those for the Nasdaq 100 declined 0.6%. The dollar dropped against most of its Group-of-10 peers and the yield on the benchmark 10-year Treasury note fell four basis points to 4.92%. The MSCI Asia Pacific Index dropped 0.2% even as South Korea’s Kospi Index jumped 1%.
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