NEW YORK — Stocks increased on the eve of Election Day as Wall Street looked ahead to the advantages of a potentially split federalgovernment in Washington, though trading is mostlikely to stay rough in a week complete of occasions that might shake the market. The S&P 500 increased 1%, while the Dow Jones Industrial Average got 1.3% and the Nasdaq composite included 0.9%. Analysts state lotsof financiers appear to be making bets that Republicans will take control of at least one home of Congress. With a divided federalgovernment, gridlock is more mostlikely than huge, sweeping policy modifications that might overthrow tax and costs strategies.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows listedbelow.
NEW YORK (AP) — Stocks increased in afternoon trading on Wall Street Monday as marketing winds down for midterm elections in the U.S. that will figureout which celebration controls Congress.
The S&P 500 increased 0.9% as of 2: 33 p.m. Eastern. The Dow Jones Industrial Average increased 439 points, or 1.4%, to 32,843 and the Nasdaq increased 0.9%.
Apple was little altered following an earlier drop after the business cautioned consumers they’ll have to wait longer to get the mostcurrent iPhones after anti-virus constraints were enforced on a professional’s factory in China. Facebook’s momsanddad business increased 5% after the Wall Street Journal reported that the business strategies to make a huge round of layoffs this week.
Cruise lines and other travel-related business fell. Norwegian Cruise Line, which reports monetary results Tuesday, slipped 1.6%.
Bond yields increased. The yield on the 10-year Treasury increased to 4.20% from 4.16% late Friday. The yield on the two-year Treasury increased to 4.73% from 4.66%.
Tuesday’s election will choose control of Congress and secret go