NEW YORK: Wall Street stocks were mixed early Tuesday as markets awaited returns in US elections that will determine if President Biden’s Democratic Party maintains control of Congress.
Polls show the opposition Republican Party favored to win at least one house of the legislature, raising the prospect of divided control of Washington.
Some investors cheer mixed control of Washington because it limits policy uncertainty. Analysts also note that the post-Election Day period is usually strong for equities, setting the stage for a potential rally in coming weeks.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 32,980.50.
US stocks mixed ahead of inflation data, midterm vote
The broad-based S&P 500 added 0.1 percent at 3,810.07, while the tech-rich Nasdaq Composite Index slipped less than 0.1 percent to 10,561.15.
Among individual companies, Lyft sank nearly 20 percent as the ride-hailing firm reported a $422.2 million loss even as it pointed to strong demand from customers.
DuPont jumped 7.2 percent as the chemical maker reported better-than-expected results and announced a new $5 billion share repurchase program.
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