08 November, 2018
The USA500 traded sharply higher by close of business on Wednesday at 2813.89 as market sentiment improved with the US elections out of the way allowing both political parties to claim victory. Democrats won control of the House of Representatives on Tuesday, while President Donald Trump's Republican party expanded its Senate majority, pointing to the likelihood of political gridlock in Washington but some analysts felt that a divided Congress would be good news for equities. Technology and healthcare sectors soared as investors believed that those growth sectors should benefit from the situation. Even after Wednesday's gains, the S&P 500 was 4 percent below its record close in September, as investors kept their eyes on rising interest rates and the U.S.-China trade war. The Federal Reserve began a two-day monetary policy meeting on Wednesday, but no rate increase was expected when it releases its policy decision on Thursday. The Fed is expected to raise rates in December, at its last policy meeting of the year. The best performers of the session were Caterpillar, which rose 4.46%, Microsoft was up 3.94%, AMD also grew 5.61%. The worst performers of the session were Procter & Gamble Company, which fell 0.24%, Walt Disney Company added 0.29% and Coca-Cola was up 0.53%.