Stocks rose Monday on the eve of Election Day as Wall Street looked ahead to the benefits of a possibly split government in Washington, though trading is likely to stay bumpy in a week full of events that could shake the market.
NEW YORK—
Of course, that means a better-than-expected performance by Democrats in the midterm elections could hurt stocks. Investors may fear emboldened Democrats in such a scenario would push for increased spending to help the economy. That in turn could be a signal that the Federal Reserve would have to hike interest rates even higher to get inflation under control.
Economists expect the report to show that the consumer price index was 8 percent higher in October than a year earlier, which would be a slight slowdown from September’s 8.2 percent inflation rate. “The lags are different each cycle and for different reasons, and we just don’t know when the tightening will have the impact that was intended,” said Keith Buchanan, portfolio manager at Globalt Investments.
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