Does the Market Care Who Wins Tomorrow?

11.7.22 - 

Gold last traded at $1,675 an ounce. Silver at $20.82 an ounce.

Stocks start week higher as midterms, CPI report loom- Yahoo! Finance

U.S. stocks pushed forward Monday as investors geared up for another week of potentially market-moving events: the Nov. 8 midterm elections and October consumer price data. 

The S&P 500 (^GSPC) rallied 1%, while the Dow Jones Industrial Average (^DJI) jumped more than 400 points, or roughly 1.3%. The technology-heavy Nasdaq Composite (^IXIC) gained about 0.9% after the index posted its worst weekly decline since January. 

A batch of downbeat corporate news has renewed focus on the wreck across technology stocks after disappointing earnings last week dragged the sector's heaviest hitters - Apple (AAPL), Amazon.com (AMZN), and Alphabet (GOOGL) - to losses of more than 10% each. 

Apple (AAPL) reversed a loss of more than 1% to close higher after the company said in a statement Sunday it expects fewer shipments of its newest premium iPhones than previously anticipated, citing COVID lockdowns in China that dented operations at its biggest smartphone maker Foxconn's factory. 

Also among tech giants, Facebook parent Meta (META), which is now the worst performer in the S&P 500 index this year, is expected to begin large-scale layoffs this week, according to a report from the Wall Street Journal on Sunday. Shares rose 6.5%.