Democrats win US midterms; stocks rise, oil falls on Iran war hopes
Briefing by News4U · First published
Democrats won control of both houses of Congress in Tuesday's midterm elections, ending Republican majorities and raising expectations that funding for the US-Iran war could be restricted. Oil prices fell more than 8 percent, with Brent crude down about 20 percent for the week to around $95 a barrel and WTI near $88. Wall Street indices rose, the Dow gaining 3 percent to 53,356, the S&P 500 up 1.6 percent to 7,689 and the Nasdaq rising 1.4 percent to 25,737. Analysts said the election outcome resolved uncertainty and could push President Trump toward a deal to end the conflict. [1] [2]
Sources
- Stocks surge, oil tumbles after Trump's election rout
RTHK Finance · · Excerpt
- Oil prices slump as Trump election rout eases Middle East conflict risks
SCMP Business · · Summary only