US stocks open mixed ahead of midterm election
New York: US stocks opened mixed on Monday as investors got ready for the upcoming midterm elections.
The Dow Jones Industrial Average gained 61.56 points, or 0.24 per cent, to 25,332.39. The S&P 500 was up 5.4 points, or 0.20 per cent, to 2,728.46, Xinhua news agency reported.
The Nasdaq Composite Index fell 27.25 points, or 0.37 per cent, to 7,329.75.
US voters will head to the polls on Tuesday and the results of the country’s midterm elections can send ripples throughout capital markets. Democrats are largely expected to regain control of the House while Republicans may maintain a grip on the Senate.
Apple shares dipped more than 3 per cent in early trading on Monday. The decline comes after Rosenblatt Securities downgraded apple amid expectations of lower iPhone sales.
On the economic front, the ISM non-manufacturing index hit 60.3 per cent, higher than analysts’ expectations.