Stocks mixed on eve of midterms as tech lags
U.S. stocks posted a mixed session one day ahead of the midterm elections. The Dow Jones Industrial Average surged 190.87 points late in the session or nearly 1 percent, the S&P 500 also posted gains of 15.25 or 0.56 percent The Nasdaq Composite fell 0.38 percent or 28.14 points with large cap tech names pacing the declines.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38503.69 | +263.71 | +0.69% |
| SP500 | S&P 500 | 5070.55 | +59.95 | +1.20% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15696.639958 | +245.33 | +1.59% |
Amazon, Google and Apple were among the largest decliners on the Nasdaq Composite. While IBM and Chevron both gained over 4 percent to lead the Dow.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 179.51 | +2.29 | +1.29% |
| GOOGL | ALPHABET INC. | 158.27 | +1.99 | +1.27% |
| AAPL | APPLE INC. | 166.82 | +0.98 | +0.59% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 182.20 | +0.26 | +0.14% |
| CVX | CHEVRON CORP. | 162.84 | +0.83 | +0.51% |
Americans go to the polls Tuesday, in a highly contested election that could see the House flip from Republican to Democrat, FOX Business is following the issues impacting local and national economies.
The United States is putting oil and financial sanctions against Iran back in effect on Monday. The move is to curb Iran’s missile and nuclear programs and counter its growing military and political influence in the Middle East.
The move puts back in place U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of President Obama. They will also add 300 new designations in Iran's oil, shipping, insurance and banking sectors.
Economic data released Monday included the IHS Markit U.S. services PMI, which rose to 54.8 in October from 53.5. The ISM services index fell to 60.3 in October from 61.6.
On Friday, the latest monthly jobs report showed that the U.S. economy remains on solid footing with the addition of 250,000 jobs in October, and the 3.7 percent unemployment rate holding at the lowest level since 1969. Wages also rose 3.1 percent the best gain since the recession.
FOX Business' Ken Martin contributed to this report.