How will the election outcome impact America and the markets?
Afternoon Note
By Karina Hernandez, Senior Research Analyst
11/7/2022 1:47 PM
A mixed day in the market as the Street embraces a week of potentially market-moving events. The Nasdaq opened with gusto, but it is swinging between gains and losses. Apple (APPL) is weighing on the index’s performance after warning lower-than-expected iPhone 14 shipments due to production issues in China.
Yields keep pressuring investors’ sentiment, with the 10-year note reaching the 4.20% level and 2-year note reaching 4.72%.
Energy is the top gainer this afternoon, while Utilities are the worst performing.
Stocks may not have an easy ride this week with the midterm elections tomorrow and inflation data that comes out late Thursday. With that in mind, the market is showing resilience to selling pressure, as this could be the turn we have been looking for.
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