Dollar falls and shares surge as US election 'clips Trump's wings' – business live

Gridlock on Capitol Hill reduces chance of further fiscal stimulus and tax cuts, economists sayIntroduction: US dollar hit by midterm election resultsBut shares rally as Trump has his wings clippedWhat it means for the marketsLive blog: Midterm elections 2018 latestFull story: ‘Blue wave’ sweeps Democrats back to majority in House of Representatives 2.02pm GMT My US colleagues have launched a new liveblog covering all the reaction to the midterms…. including this typically presidential threat from Donald Trump:If the Democrats think they are going to waste Taxpayer Money investigating us at the House level, then we will likewise be forced to consider investigating them for all of the leaks of Classified Information, and much else, at the Senate level. Two can play that game! Related: Trump threatens Democrats over investigating his administration after they win House – live 1.20pm GMT The US stock market is expected to rally when trading begins in around 70 minutes time.The Dow is being called up around 215 points, or 0.8%, as investors take the midterm results in their strides.We’re expecting a large #DOW dividend adjustment of 32.5 pts this evening.Early US Opening Calls:#DOW 25850 +0.82%#SPX 2782 +0.96%#NASDAQ 7093 +1.48%#IGOpeningCall“US stock futures edged up this morning, signalling the market sees Republicans as having marginally outperformed. For once, the polls were pretty much on track, but the pundits have been careful to manage expectations after 2016’s miscalculations, which on balance is probably a healthy development.“From an economic standpoint, the more gridlock can be avoided the better. We will be interested to see whether certain sectors can benefit from this outcome, such as infrastructure. Continue reading…
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