
European markets post their biggest gains since June as oil falls below $100 a barrel.
AI-generated summary
The mid-term elections in the United States saw the victory of the Democratic Party, influencing market dynamics.
Wall Street opens strongly after the victory of the Democrats in the mid-term elections. The Dow Jones rises by 1.95% to 52,803.24 points, the Nasdaq advances by 1.31% to 25,687.35 points while the S&P 500 makes progress by 1.16% to 7,656.46 points.
Tesla and SpaceX, Elon Musk's giants, instead collapse. Tesla loses 4.13% while SpaceX loses 2.70%. The hypothesis that the victorious Democrats in the mid-term elections could put the companies under scrutiny is weighing heavily.
European stock markets are set to record their biggest rise since June, and Wall Street's strong start accelerates the momentum. Stocks in the banking, luxury and renewable energy sectors drove the wave of investor optimism.
London gains 1.86%, Paris 2.2%, Frankfurt 2.13%, Madrid reaches its maximum with an increase of 3.2% and Milan extends its pace in progress by 2.44 percent.
Supporting the market are the sectors which, before the vote, had suffered from a more cautious attitude on the part of investors. Banking stocks recorded their best performance since May, helped by falling bond yields, while a basket of European luxury stocks, selected by Goldman Sachs, headed for their best day since July.
The renewable energy sector also outperformed: wind farm operator Orsted rose 4.7%, while Vestas Wind Systems gained 3.1%, on the back of the Democratic victory, seen as a favorable signal for clean energy companies. On the contrary, defense sector stocks recorded lower performances, with investors reducing expectations on European military spending, Leonardo lost 0.5% and Finicantieri 0.79%, Bae System 1.7 percent.
Oil down 4%, Brent drops below 100 dollars
The price of oil plummets after the outcome of the midterm elections in the United States. Brent lost 4.17%, falling below 100 dollars a barrel at 99.28. Similar trend for the WTI which retreats by 4.06% to 92.19 dollars.

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