US stocks trade higher as mid-term elections begin

New York: US stocks traded higher on Tuesday as investors closely followed the country’s mid-term elections.

The Dow Jones Industrial Average gained 113.63 points, or 0.45 per cent, to 25,575.33. The S&P 500 was up 9.36 points, or 0.34 per cent, to 2,747.67, Xinhua news agency reported.

The Nasdaq Composite Index rose 31.74 points, or 0.43 per cent, to 7,360.59.

The results of the US midterm elections are expected to send ripples throughout capital markets.

On the economic front, the number of job openings decreased to 7 million on the last business day of September, the US Labor Department said on Tuesday.

Over the month, hires and separations were both little changed at 5.7 million. Within separations, the quits rate was unchanged at 2.4 per cent and the layoffs and discharges rate was little changed at 1.1 per cent, said the department.

On Monday, a report showed that the ISM non-manufacturing index hit 60.3 per cent, higher than analysts’ expectations.

The non-manufacturing sector has again reflected strong growth despite a slight cooling off after a record month in September, said experts.