Milo Mueller of Dubuque, Iowa casts his vote at Hope Evangelical Free Church in Dubuque, Iowa, U.S. November 6, 2018.
DEMOCRATS rode a wave of dissatisfaction with President Donald Trump to win control of the U.S. House of Representatives on Tuesday, giving them the opportunity to block Trump’s agenda and open his administration to intense scrutiny.
In midterm elections two years after he won the White House, Trump and his fellow Republicans expanded their majority in the U.S. Senate following a divisive campaign marked by fierce clashes over race, immigration and other cultural issues.
MARKET REACTION:
STOCKS – U.S. S&P 500 e-mini futures were up 0.34 percent. MSCI’s all-country world index was up 0.19 percent.
BONDS – The 10-year U.S. Treasuries yield fell to a session low of 3.18 percent.
DOLLAR – The US dollar index was down 0.35 percent.
COMMENTARY:
JUAN PEREZ, SENIOR CURRENCY TRADER, Monex, INC, WASHINGTON
“Things fell as expected, so we have to see if the House will affect the trade conflict. This really was what markets priced-in. We may see some recovery from major counterparts, but that alludes more to a natural recovery after the greenback gained by over 2.5 percent throughout October.”
