Dow and S&P closed in the positive yesterday but Nasdaq slipped lower Monday at close. Dragging the tech index lower were companies the likes of Apple, that suffered an analyst downgrade on expectations of a decline in iphone sales; and Amazon that found itself in the middle of an anti-trust investigation.
We look onto US midterm elections as well on Tuesday, and the outcome will likely leave its mark on sentiment and in turn on equity performances as well. Democrats are expected to take control of the House of Representatives while Republicans are expected to stay in control of the Senate, albeit by a slim majority.
The US dollar’s Monday losses seem to have bottomed out at the time of writing, although it remains too early in the day, and performance as depicted by the US dollar index, remains rather flat early in Tuesday’s morning session.
The major highlight is likely to be US mid term elections today but from the EZ we are also expecting Service PMI numbers and Producer Price index. Later this evening we shall also have the latest updates for NZ unemployment rates.
