Wall Street opens in green with elections in focus

Monday, 07. November 2022 15:31

Major stock exchanges on Wall Street opened the trading session on Monday with gains, as investors brace for the nation's upcoming mid-term elections which are set to take place on November 8. While the United States' leading party is confident about securing a win in the congressional elections, the country's former president Donald Trump warned that the US will turn into a communist country if the Republican Party fails to assume the majority.

Market participants will also keep a close eye on the release of the consumer price index report as the Federal Reserve opted for an additional interest rate increase to tame the raging prices in the United States.

The Dow Jones Industrial Average gained 0.38% or 115 points and the Nasdaq 100 was up by 0.59%, with Walgreens Boots Alliance pulling both indexes up by 5.15%. The S&P 500 increased by 0.45% with Viatris Inc. skyrocketing by 12.68%.

The euro rose 0.36% against the American currency, to sell at $0.99892 at 9:27 am ET.

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