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US midterm results lift Mexican peso and stock market
Democrats won control of both the House of Representatives and the Senate in the United States midterm elections, and investors responded with gains in Mexico and on Wall Street. Mexico's peso strengthened about 1.4 percent against the dollar, according to Banco de Mexico data, trading near 18.56 per dollar, while the Mexican stock exchange rose roughly 1.8 percent after the opening. Wall Street also opened higher, with the Dow, Nasdaq and S&P 500 each gaining more than one percent in early trading. Analysts said a divided government could limit new fiscal stimulus and open room for a more favorable renegotiation of the USMCA trade pact. Shares of companies linked to Elon Musk fell, with Tesla down 4 percent and SpaceX down 2.1 percent, after Musk donated nearly 500 million dollars to Republican candidates. Oil prices fell, with Brent down 2.78 percent, while gold rose 2.77 percent.
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US midterm results lift Mexican peso and stock market
Democrats won control of both the House of Representatives and the Senate in the United States midterm elections, and investors responded with gains in Mexico and on Wall Street. Mexico's peso strengthened about 1.4 percent against the dollar, according to Banco de Mexico data, trading near 18.56 per dollar, while the Mexican stock exchange rose roughly 1.8 percent after the opening. Wall Street also opened higher, with the Dow, Nasdaq and S&P 500 each gaining more than one percent in early trading. Analysts said a divided government could limit new fiscal stimulus and open room for a more favorable renegotiation of the USMCA trade pact. Shares of companies linked to Elon Musk fell, with Tesla down 4 percent and SpaceX down 2.1 percent, after Musk donated nearly 500 million dollars to Republican candidates. Oil prices fell, with Brent down 2.78 percent, while gold rose 2.77 percent.