Bitcoin edged 0.7 percent higher on Tuesday at the Wall Street open, as US equities avoided being dragged down by uncertainty ahead of the midterm elections. Crude oil moved in the opposite direction to the stock market’s calm, with WTI slipping to $93.59 a barrel, its lowest since October 15.
By our market data, bitcoin was trading at $77,542 as of 15:58 GMT on 3 November, down 0.52 percent on the day. The S&P 500 closed at 7,541.40 points on 2 November, down 0.51 percent from the previous close.
Midterm doubts weigh on sentiment
Tobin Marcus, head of US policy and politics at Wolfe Research, said investors appeared sceptical that the final result would be as favourable to Democrats as the polls suggest. He added that polls were likely overstating Democratic strength.
The Kobeissi Letter argued that the market was pricing in a major shift in the political landscape. Uncertainty of that kind, it said, is something markets dislike.
Apple guidance and oil
Apple shares fell 4 percent in premarket trading after the company forecast gross margins of 45 to 46 percent for the December quarter. That compares with 47.9 percent in the previous quarter, and the company cited rising memory-chip costs.
Oil fell 7 percent on Monday after US Secretary of State Marco Rubio said Trump was open to resolving the US-Iran war diplomatically. WTI initially jumped to $98.80 on Tuesday before dipping below $94. US strikes on Qeshm Island, a military control outpost for the Strait of Hormuz, followed days later.
Data: S&P Dow Jones Indices · CoinGecko
