Three days from the end of the midterm elections, it is still not clear who will be in control of Congress. In the lower house, the projections point to a victory for the Republicans, who have already secured 211 of the 218 required to have a majority, In the Senate, the outlook is more uncertain, with a partial Republican victory by two seats, pending the results of Arizona, Nevada and Georgia. Inflation seems to have given a respite to the US economy. The CPI reading was 7.7% year on year, a considerable decrease compared to 8.2% in September. These signs of reduction were welcomed by the markets, with the S&P rallying over 5% and the Nasdaq over 7% a trend that continued on Friday. Donald Trump has set November 15 as the date for a "big announcement" at his home in Mar a Lago. This is expected to be the announcement of his presidential candidacy. The University of Michigan consumer confidence has fallen from 56.2 to 52.7 when a slighter drop (56.0) was expected.
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