Wall Street ended higher yesterday as Democrats’ sweeping US midterm elections victory eased political uncertainty and boosted investor’s risk appetite. The rally was led by the gains in technology stocks and a decline in crude oil prices amid hopes of a possible de-escalation in West Asia conflict. Among the technology stocks, AI heavyweights rose while chipmakers and data centre operators fell on concerns over tighter AI regulation. The Dow Jones Industrial Average jumped over three per cent, the S&P 500 climbed 1.6 per cent, and the Nasdaq Composite gained over 1.4 per cent.
On the economic front, according to the government data, the US trade deficit narrowed by 0.7 billion US dollars (USD) to 105 billion USD in September.
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