Investors face a five-day test. America votes on Tuesday, deciding who controls Congress and how far Trump’s fiscal agenda can go. 

The mid-terms decide who controls Congress and how far Trump’s fiscal agenda can go.

The same day, Australia’s central bank is expected to raise rates to an 18-year high, and the Bank of England looks set to follow on Thursday as the energy shock from the Iran war keeps inflation sticky.

In between, Apple, AMD and Palantir report results, the next test of whether investors still believe the AI spending will pay off.

Friday’s jobs report then decides whether the next big move in rates is up. Over all of it hangs Hormuz, with ceasefire talks running against the risk of renewed strikes once the vote is over.

Over all of it hangs Hormuz, with ceasefire talks running against the risk of renewed strikes once the vote is over.