As citizens cast their ballots on Election Day, US stocks rose while market participants evaluated potential dangers facing the artificial intelligence sector and lawmakers fought for the legislative majority in both houses of Congress.
Technology Stocks Lead S&P 500 Index Gains
- The S&P 500 Index gained 0.4%, with four of the 11 sectors advancing, led by technology stocks.
- The Nasdaq 100 rallied 0.7%, rebounding a day after entering a correction.
- The Cboe Volatility Index stood at 20.83, decreasing from the 21.15 mark seen on Monday, which marked the peak since June.
Volatile Markets React as Voters Head to Polls
As voters headed to the polls, control of both chambers of Congress was at stake. The Cboe Volatility Index was recorded at 20.83, dropping off Monday’s reading of 21.15, which represented the highest point since June.
Apple Shares Fall Despite Technology Sector Rebound
Four of the 11 sectors in the S&P 500 advanced during the session, led by technology stocks. The Nasdaq 100 rallied 0.7%, rebounding a day after entering a correction.
Apple Inc. bucked the trend, falling 1.9% after delivering a mixed outlook to investors.
| Index / Asset | Daily Movement | Key Context |
|---|---|---|
| S&P 500 Index | +0.4% | Four of 11 sectors advanced, led by technology. |
| Nasdaq 100 | +0.7% | Rebounded a day after entering a correction. |
| Apple Inc. | -1.9% | Fell after delivering a mixed outlook to investors. |
| Cboe Volatility Index | 20.83 | Down from Monday’s level of 21.15, the highest since June. |
Evaluating the Artificial Intelligence Trade
Investors scrutinized possible threats to the artificial intelligence trade while US voters participated in the election and traveled to polling stations.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
