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Meta Platforms rallies after report of job cuts
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Apple slips as COVID-19 curbs crimp iPhone production in China
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Indexes: S&P 500 +0.29%, Nasdaq +0.03%, Dow +0.84%
(Updates with details of afternoon trading, adds analyst comment)
By Noel Randewich and Amruta Khandekar
Nov 7 (Reuters) –
The S&P 500 rose on Monday as investors focused on Tuesday’s midterm elections that will determine control of Congress, while shares of Meta Platforms jumped on a report of job cuts at the Facebook parent.
Republican candidates have picked up momentum in polls and analysts expect a split government, with the GOP winning the House of Representatives and possibly the Senate, as the likely outcome possibly hindering Democratic President Joe Biden’s agenda.
“The likelihood that the Republicans take the House or the Senate is pretty high, therefore guaranteeing…
