The news that Texas will gain the most new seats in the US House of Representatives under new Census numbers released Monday arrived at the same time the stocks on Wall Street slid.
The S&P 500 fell 0.28%, NDX 0.30% and the Dow 0.30% as well of which has given the DXY a slight boost in an otherwise bearish environment.
S&P 500 vs DXY 15 min chart
Bloomberg reports, ”the US Census Bureau released its every 10-year count of state populations Monday, reshuffling the 435 House seats among the 50 states to account for population changes over the last decade.
Those changes alone could be enough to decide the balance of power: Democrats hold a narrow advantage in the House now, with a margin of less than half a dozen seats.”
The news agency goes onto explain that ”the states gaining seats are largely ones that former President Donald Trump won in 2020, while states President Joe Biden won, including the so-called “Blue Wall” states of the industrial North, are losers.”