Wall Street eyes Midterm election rally as Fed decision and big tech earnings loom
India, Oct. 27 -- The US stock market has a historically strong period ahead of the midterm elections. Wall Street investors have been worried about heavy spending on artificial intelligence (AI), earnings from major technology companies and the US Federal Reserve's interest-rate decision. However, past market data suggest that the S&P 500 could rise over the next eight trading sessions.
The S&P 500 has risen in 18 out of 19 US midterm election years during this period. Since 1950, the index has gained in 18 of the 19 midterm years during the eight-session period that starts five trading sessions before Election Day and ends three trading sessions after it. The median gain during this period was nearly 3%, according to data highlighted b...
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