Global stock markets recorded mostly positive performance on November 4. All major indices in the United States and Europe rose, while mixed results were observed in the Asia-Pacific region, APA-Economics reports.
In the United States, the Dow Jones index rose by 1,569.40 points, or 3.03%, to 53,356.12 points. The S&P 500 index gained 119.70 points, or 1.58%, reaching 7,688.62 points, while the Nasdaq Composite index increased by 364.50 points, or 1.44%, to 25,736.51 points.
The NYSE Composite index rose by 1.56% to 24,686.13 points, while Canada's S&P/TSX Composite index increased by 2.28% to 36,341.40 points.
All major indices also rose in European stock markets. The Euro Stoxx 50 index increased by 1.97% to 6,265.71 points, while the UK's FTSE 100 index gained 1.79%, reaching 10,829.21 points.
Germany's DAX index rose by 2.22% to 26,437.67 points, France's CAC 40 index increased by 1.96% to 8,177.89 points, and Spain's IBEX 35 index gained 3% to 19,370.90 points.
Mixed performance was observed in the Asia-Pacific region. Japan's Nikkei 225 index fell by 0.94% to 61,606.53 points, while the TOPIX index rose by 1.45% to 3,951.67 points.
Hong Kong's Hang Seng index increased by 3.10% to 24,662.11 points, while China's CSI 300 index rose by 0.36% to 4,115.93 points.
Australia's S&P/ASX 200 index gained 2.33%, reaching 9,040.20 points. Meanwhile, the broader regional MSCI AC Asia Pacific index declined by 0.06% to 255.71 points.
According to analysts, the rise in US and European stock markets was driven by the results of the US midterm elections becoming clear, reduced political uncertainty, and a sharp decline in oil prices.
The Democrats' victory in securing majorities in both chambers of Congress has raised expectations of stronger legislative oversight of President Donald Trump's economic policies. At the same time, falling oil prices have increased expectations that inflationary pressures will ease. In Europe, positive corporate financial results also supported the rise in stock indices.