Stocks Rally for Second Day Ahead of US Midterms: Markets Wrap
- Meta rises on plans for job cuts; Apple’s iPhone shipments
- Elections set to fuel stock rally, Morgan Stanley says
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US shares rose in a broad-based rally that swept up small caps as well as blue-chip stocks, ahead of midterm elections and inflation data later this week. The dollar fell with Treasuries.
The S&P 500 closed near session highs, with all but three of the 11 industry groups advancing. The tech-heavy Nasdaq 100 also caught bids, while the Dow Jones Industrial Average outperformed, rising as much as 1.5% with health-care names topping the leaderboard. The Russell 2000 rallied, reversing losses in afternoon trading.