December WTI crude futures rose 0.78% to $ 38.85 a barrel.
Key indexes on the New York stock exchange were mixed at the start of the session on Tuesday. As noted by the Bloomberg news agency, investors take into account that in the period before the Congressional elections, a new package of measures to stimulate the economy will not have time to be adopted.
According to the information posted on the trading platform’s website, the Dow Jones industrial average fell by 57.03 points (-0.21%) to 27 632,15. The S&P 500 index, which includes the 500 largest US companies, rose 2.20 points (+0.10%) to 3 404,17. The NASDAQ electronic exchange index rose 67.95 points (+0.61%) to 11 427,73.
December WTI crude futures rose 0.78% to $ 38.85 a barrel. Gold futures rose 0.04% to $ 1 906,50 a Troy ounce.
As The Wall Street Journal noted, “despite the massive asset dump that occurred on Monday, investors seem to be prepared for the fact that the result of the upcoming November 3 presidential election will be announced without delay, and thus it will be possible to avoid a period of volatility at the end of the year.” Market participants, according to the newspaper, ” take into account the results of recent polls indicating that The Democratic presidential candidate Joseph Biden is ahead of President Donald Trump, which indicates the possibility of his clear victory.”
“They [market participants] no longer believe that the election results will have to wait long,” the newspaper quoted Amy Wu Silverman, Managing Director of RBC Capital Markets, as saying.
“They expect that there will be good news both on the issue of the adoption of a package of measures to stimulate the economy and on the issue of the coronavirus vaccine.”