US stocks end mixed ahead of midterm elections

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Europe

US stocks closed mixed on Monday as investors got ready for the upcoming midterm elections.

The Dow Jones Industrial Average increased by 190.87 points, or 0.76 percent, to 25,461.70. The S&P 500 rose by 15.25 points, or 0.56 percent, to 2,738.31. The Nasdaq Composite Index was down 28.14 points, or 0.38 percent, to 7,328.85.

The Dow's gains were led by IBM. Shares of the company rose by 3.8 percent, at market closing.

Eight of the 11 primary S&P 500 sectors traded higher, with real estate and energy up 1.69 percent and 1.61 percent, respectively, leading the advancers.

Some of the major US tech shares pulled back, dragging the Nasdaq.

Apple shares dipped by 2.84 percent at the close. The decline came after Rosenblatt Securities downgraded Apple amid expectations of lower iPhone sales.

Amazon's stock closed 2.27 percent lower after US President Donald Trump said the administration was looking into antitrust violations committed by the e-commerce giant.

US voters will head to the polls on Tuesday and the results of the country's midterm elections can send ripples throughout capital markets, experts noted.

On the economic front, the ISM non-manufacturing index hit 60.3 percent, higher than analysts' expectations.

Source(s): Xinhua News Agency