S&P/TSX composite up nearly 500 points after Democrats take control of Congress
Canada's main stock index, the S&P/TSX composite, surged nearly 500 points to close at 36,012.39 points on Tuesday. This marked a significant gain following the Democrats' victory in both houses of Congress during the United States midterm elections. Simultaneously, U.S. stock markets experienced a similar surge, with the Dow Jones industrial average rising by 1,173.36 points to 52,960.08 and the S&P 500 index climbing 102.23 points to 7,671.15.
The Nasdaq composite also saw a substantial increase of 310.72 points to 25,682.73. The Canadian dollar appreciated to 71.68 US cents, up from 71.46 cents on Monday. The December crude oil contract fell by 3.11 US dollars to 92.98 per barrel, while the December gold contract rose by 107.40 US dollars to 4,047.80 an ounce.
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- Stocks rally after Democrats march to midterm victories thehill.com
- Defense stocks slide on fear Democrats will curb spending. One analyst say it's a buying opportunity cnbc.com
- Dow surges 1,000 points as Democrats take control of Congress abcnews.com
