Wall Street Earnings as Investors Look to U.S. Elections

NEW YORK – The Wall Street's major indexes closed higher on the United States and the United States.

Some stocks such as CVS Health Corp. and Mylan NV have been boosted by strong earnings, but despite the fact that they have not been able to compete in the market.

Wall Street had been expecting that President Donald Trump's Republican party would lose control of the House of Representatives, while retaining the Senate.

"People are anticipating the results of the election and there's a high possibility of gridlock …" said Mona Mahajan, US Investment Strategist, "There could be another leg up if we get gridlock because of the existing economic agenda." Allianz Global Investors, New York.

"There's still a lot of people in the minds of people who think it's a surprise.

The Dow Jones Industrial Average rose 173.31 points, 0.68 percent gold, 25.635.01, the S & P 500 gained 17.14 points, 0.63 percent gold, 2.755.45 and the Nasdaq Composite added 47.11 points, or 0.64 percent, to 7,375.96.

About 6.85 billion shares changed on U.S. exchanges compared with the 8.7 billion average for the full session over the last 20 trading days.

Some investors said they would expect a sharp selloff, at least in the near term, if the Democrats gain control of both the House and the Senate. In contrast, stocks may rally in the country. Others hoped that the elimination of election uncertainty would create a boost either way.

"What's going on in the market?" "We've been in the midterms, we're usually in the market," said Jason Ware Chief Investment Officer at Albion Financial in Utah.

All of the S & P's 11 major sectors showed gains, led by a 1.5 percent rise in the materials index, which was helped by earnings reports.

Mosaic Co rose 10.6 percent and building materials producer Martin Marietta Materials Inc. gained 8.4 percent after strong results.

The trade-sensitive industrial sector closed up 1.1% Chinese Vice President Wang Qishan said Beijing was ready to hold talks and work with the United States to resolve trade disputes.

"Outside of midterms, which have been priced in, we've seen some general signs of U.S.-China trade negotiations helping sentiment," said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management in Chicago.

Healthcare stocks got a boost from Mylan, which jumped 16 percent after the generic drugmaker reported larger-than-expected third-quarter profit.

Pharmacy chain CVS Health Corp. Pink 5.7 percent after its results.

The health sector could be under the spotlight after the election as Trump's Efforts to Lower Prescription Drug Prices could be more attention should Democrats gain control in Congress.

Advancing issues outnumbered declining ones on the NYSE by a 1.66-to-1 ratio; on Nasdaq, at 1.58-to-1 ratio favored advancers.

The S & P 500 posted 19 new 52-week highs and one new low; the Nasdaq Composite recorded 43 new highs and 68 new lows.

(Additional reporting by April Joyner in New York and Sruthi Shankar in Bengaluru, Editing by Anil D'Silva and James Dalgleish)