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Live Stock Market News Updates: November 7, 2022

Live Stock Market News Updates: November 7, 2022

Live Stock Market News Updates: November 7, 2022

US stock futures rose slightly in pre-market trading on Monday as investors braced for another decade A week of events likely to move stocks: November 8 midterm elections and October consumer price data.

S&P 500 Index futures contracts (^ Salafist Group for Preaching and Combat) and the Dow Jones Industrial Average (^ DJI) both gained approximately 0.4%. Nasdaq Heavy Technology Composite Contracts (^ ninth) by roughly the same margin after the index posted its worst weekly loss since January.

He renewed focus on a batch of pessimistic corporate news debris cross tech stocks After last week’s disappointing earnings dragged the sector’s biggest hitter – Apple (AAPL), Amazon.com (AMZN) and the alphabet (The Google) – for losses of at least 10% last week.

apple (AAPLShares fell 1.2% before the opening after the company said in a statement on Sunday that it expects fewer shipments of its latest premium iPhones. Than previously expectedciting the COVID shutdown in China that has weakened operations at the Foxconn factory, the largest smartphone maker.

Elsewhere among tech giants, meta(dead), which is down 73% year-to-date as of Friday’s close and is the worst-performing in the S&P 500 this year, widespread layoffs are now expected to begin this week, according to the A report from the Wall Street Journal Sunday. Shares are up nearly 4% in early trading hours.

Live Stock Market News Updates: November 7, 2022

The Facebook logo is seen on a mobile iPhone in this illustrative photo in Warsaw, Poland on October 12, 2022 (Photo by STR/NurPhoto via Getty Images)

Election Day May keep investors on edge Dozens of major races determine which political party controls the Congressional agenda. Wall Street has historically preferred that Congress or the White House be divided, as deadlock makes it difficult to implement any potentially unfavorable legislation.

“Back in 1929 and with the exception of the Great Depression, some of the best annual returns for the S&P 500 were seen when the incumbent president did not have complete control of both sides of Congress,” he said in the email comment. “This may be because markets are not anticipating major changes to the law with a divided Congress.”

While political campaigns have highlighted financial leadership, some strategists argue that mid-term results rarely affect financial markets outside of short-term volatility.

“Markets are more influenced by expected financial conditions and economic catalysts than by the midterm elections,” said Dave Sekera, chief market strategist at Morningstar in the US. recent note. “Historically, some analyzes have shown that stock markets tend to underperform in the run-up to the midterms and outperform thereafter.”

Traders work on the floor of the NYSE Stock Exchange in New York, US, on November 2, 2022. US stocks fell sharply on Wednesday as Federal Reserve Chairman Jerome Powell's recent comments led to the idea being dismissed.  From the focus of politics in the near future.  The Dow Jones Industrial Average fell 505.44 points, or 1.55 percent, to 32,147.76 points.  The Standard & Poor's 500 Index fell 96.41 points, or 2.50 percent, to 3,759.69 points.  The Nasdaq Composite Index fell 366.05 points, or 3.36 percent, to 10,524.80 points.  (Photo by Michael Nagle/Xinhua via Getty Images)

Traders work on the floor of the NYSE Stock Exchange in New York, US, on November 2, 2022 (Photo by Michael Nagle/Xinhua via Getty Images)

With that said, the October Consumer Price Index (CPI) released on Thursday is sure to weigh on the stock markets. May be another hot inflation reading Establishing expectations The Federal Reserve will raise its key interest rate more than initially expected.

Economists polled by Bloomberg see the headline CPI at 7.9% annually for the month, a moderation from September’s 8.2% annual increase. Core CPI, which excludes volatile food and energy components from the scale, is expected to come in at 6.5%, unchanged from 6.6% last month.

“It’s possible that core inflation has peaked, but core inflation reached its post-pandemic high just last month,” said Ross Mayfield, Baird’s investment strategy analyst, in an email note. “While the Fed has hinted that it sees reasons to slow down, the rate of inflation – even if it has peaked – remains too high to comfort it.”

“Until the Fed signals the ‘pivot’ approaching, things may still be tough,” he added.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter Tweet embed

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