“U.S. stocks swayed between small gains and losses on Monday with investors reluctant to make major moves a day ahead of the U.S. presidential election,” Kate Gibson reports for MarketWatch.
“The Dow Jones Industrial Average gained 9.52 points to 13,102.6. The S&P 500 index added nearly 2 points to 1,416.04, with utilities leading sector declines and energy the best performing,” Gibson reports. “Apple Inc.gained [1.38%] after it sold 3 million units of its iPad mini and fourth-generation iPad during the product’s first weekend… The Nasdaq Composite climbed 12.79 points to 2,994.92. Advancers and decliners ran nearly even on the New York Stock Exchange, where 389 million shares traded by 3:20 p.m. Eastern. Composite volume topped 2.2 billion.”
Gibson reports, “‘Stocks rallied over the summer as the likelihood of an Obama victory appeared greater. Once Romney gained momentum in the fall, stocks have been left wondering who might win and have ended up trading mostly sideways to negative,’ said Andrew Fitzpatrick, director of investments at Hinsdale Associates. Jeffrey Kleintop, chief market strategist at LPL Financial, had a similar take. ‘The stock market has priced in a close election compared with where it was a month ago ahead of the debates. As the race has tightened over the past month, the market has slipped while Republican-favored industries have outperformed Democrat-favored industries.'”
Read more in the full article here.
5 iPhone apps for U.S. Election Day 2012 – November 5, 2012