Wall Street Closes with Losses Ahead of U.S. Elections; Market Awaits Closely
Investors are gearing up for the U.S. elections tomorrow and the Federal Reserve’s monetary policy announcement later in the week.
The three major Wall Street indices posted moderate losses on Monday as investors braced for the elections and the Fed’s upcoming policy decision. The Dow Jones Industrial Average, which tracks 30 large companies, dropped 0.61% to 41,794.60 points. The S&P 500, with its 500 constituents, fell 0.28% to 5,712.69, while the Nasdaq Composite slipped 0.33% to close at 18,179.98.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
A sense of caution prevails among investors, as the outcome of the race between Democrat Kamala Harris and Republican Donald Trump may not be known until days after voting concludes, with projections suggesting a tight race.
Financial markets have shown signs of nervousness after a poll placed Kamala Harris ahead in Iowa, leading to declines in the dollar, bond yields, and bitcoin. However, Trump Media rose by 12.37% after a 6% drop.
Later in the week, on Thursday, the market awaits the Federal Reserve’s monetary policy decision, with expectations of a 25-basis-point rate cut. This prediction is based on CME Group’s FedWatch tool, which tracks rate futures.
Meanwhile, quarterly earnings reports continue, with companies such as restaurant chain Yum Brands, tech giants Qualcomm and ARM, pharmaceutical company Moderna, entertainment powerhouse Warner Brothers Discovery, and automaker Rivian scheduled to release results this week.
Expectations and valuations for companies involved in artificial intelligence, along with developments in the Middle East conflict, remain factors with the potential to impact trading activity.
At the close of the session, based on S&P 500 components, the energy, real estate, and materials sectors posted the strongest gains, while utilities, communications, and financials recorded the largest losses.
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker