Markets Right Now: US futures higher as Dems regain House

NEW YORK (AP) — The latest on developments in financial markets (all times local):

Share prices have closed mixed in Asia with several major regional benchmarks giving up early gains.

The retreat Wednesday followed results from U.S. midterm elections that were no surprise but raised the prospect for greater uncertainty as the opposition Democrats regained a majority in the House of Representatives.

Japan’s Nikkei 225 index lost 0.3 percent to 22,085.80 while Hong Kong’s Hang Seng index yoyo’d back into positive territory, adding 0.1 percent to 26,147.69. The Kospi in South Korea lost 0.5 percent to 2,078.69 and the Shanghai Composite index skidded 0.7 percent to 2,641.34. Australia’s S&P ASX 200 added 0.4 percent to 5,896.90 and shares also rose in Taiwan, Singapore and Indonesia.

European stock markets have opened strongly after the U.S. midterm results came in largely as anticipated with the Democrats taking back control of the House of Representatives and the Republicans holding onto the Senate.

Among the main indexes, Britain’s FTSE 100 was up 1 percent at 7,113 while Germany’s DAX also spiked 1 percent to 11,598. The CAC 40 in France was 1.1 percent at 5,131.

Though the election results raise the prospect of political gridlock in Washington, Mike Read, founder of social trading platform Pelican, said the “cloud of uncertainty from the last few weeks has lifted and we’re back to seeing trading as usual.”

As a result, he thinks many traders who have stayed on the sidelines in recent weeks will return to the markets.

Asian shares have wavered after a strong start as Democrats appear on track to take back control of the U.S. House of Representatives.

The outcome of the U.S. midterm

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