- Stocks in the United States rose Tuesday, as investors focused their attention on midterm elections results.
- Analysts say that if Republicans win a majority in Congress it could cause political gridlock and spark a new rally for stocks.
- News Binance plans to buy Sam Bankman-Fried’s crypto exchange FTX. Cryptocurrencies tumbled.
US stocks rose on Tuesday due to investors focusing on midterm election results. Cryptocurrencies, however, fell as a result of renewed liquidity concerns.
Analysts believe Wall Street is looking for political gridlock in the event that the GOP wins Congress. This could lead to a new rally during this year’s bearish market. Ryan Detrick, Carson Group’s director of research, said that a Republican majority could lead to the stock market entering its “final phase.”Best-performing environment“, adding that it was possible stocks had already bottomed in October.
Cryptocurrencies fellNews that Binance will take over Sam Bankman Fried’s crypto exchangeFTX Token plunged 84%, raising liquidity worries in the sector. FTX Token dropped 84%, and Binance’s BNB declined 9%. According to CoinMarketCap data Bitcoin fell 13% and the total crypto sector lost 12%.
Here are the US indexes at 4:00 p.m. on Tuesday.
Here’s more:
Commodities, bonds, and crypto
