Coinbase (COIN) and Circle (CRCL) shares posted different month-to-date returns through Oct. 16, while asset-manager outlooks ahead of U.S. midterms focused on broad equity trends.
At Friday’s U.S. market close, Coinbase was $173.16, down 5.79% for the session, according to Yahoo Finance historical data. Circle’s investor-relations page listed CRCL at $82.22, down 5.46% at 4 p.m. EDT. ChartExchange historical prices show that from Sept. 30 through Oct. 16, COIN fell about 7.1%, while CRCL rose about 0.06%.
The U.S. midterms determine control of Congress for the next two years. All 435 House of Representatives seats and roughly one-third of Senate seats are up for election, USA.gov says.
Goldman Sachs Asset Management sees a divided government as its base case. The firm said that scenario could leave limited room for major policy changes, and expects market attention to shift toward economic and company fundamentals after the vote.
J.P. Morgan Asset Management Global Market Strategist Jordan Jackson found that the S&P 500 was higher 12 months after every midterm election in the historical record dating to 1950, with gains averaging about 15%. Fourth-quarter returns in midterm election years averaged 6.6%. Jackson’s broader outlook also cited analyst expectations for 37% earnings growth over the next 12 months, U.S. GDP growth of about 2% through 2027, investment in AI infrastructure and a Federal Reserve rate path that the firm expects to be less aggressive than markets anticipate.
Neither cited report makes a specific forecast for COIN or CRCL. CoinGape’s chart analysis identified $167 as a support level for COIN, with $154 as a possible lower level and $199 as an upside level. For CRCL, it cited resistance around $87 and $90, and support near $82 and below $80.
The U.S. Postal Service calendar lists Nov. 3 as the general election date.
