Stocks rally after Democrats march to midterm victories
Banks and clean-energy stocks led gains as investors bet Democratic control could ease scrutiny and preserve renewable incentives, while Treasury yields and oil fell.
- On Wednesday, Wall Street rallied after midterm elections delivered historic losses for the GOP, with the Dow Jones Industrial Average surging 1,178 points. Democrats are positioned to control both the Senate and the House.
- Investors generally prefer split control of Washington because it lessens the risk of transformative economic changes. The shift provides a counterbalance to the White House, currently led by President Donald Trump.
- Democratic control of Congress boosted solar and wind companies; First Solar jumped 15.1%. Conversely, Trump Media & Technology Group dropped 9.1% and Tesla fell 5.2% amid concerns about potential investigations.
- Global markets also climbed, with stocks in Paris, Shanghai, and London jumping. The yield on the 10-year Treasury fell to 4.92% from 4.95%, signaling reduced investor concerns about government debt.
- Historically, U.S. markets tend to perform well in the six months following midterm elections regardless of which party wins. Brian Jacobsen, chief economic strategist at Annex Wealth Management, noted that "Earnings trump elections.
131 Articles
131 Articles
At about 15:10 GMT, the Dow Jones flew by 2.03 percent, the Nasdaq index won 2.45% and the expanded S&P 500 index increased by 1.75 percent. On Tuesday, the Democrats signed a victory without appeal, with a majority in both chambers of Congress, in elections that turned into a disaster for Donald Trump and the Republicans. Even if the outcome was anticipated, "these results help to dispel some of the political blur" that persisted in the markets…
Beckley Register-Herald
US stocks surge, and the Dow soars 1,500 points as Brent oil's price drops below $95 per barrel
U.S. stocks are rallying after President Donald Trump’s party lost its sole control of Washington in the midterm elections. Stocks generally do well in the months following any midterm U.S. election, regardless of who wins, and the S&P 500 jumped…
Evening Standard
US stocks rally as traders welcome certainty post-midterm elections
Top stock market indexes were given a boost in early trading on Wednesday.
Wall Street reports after the Democratic victory in the mid-term elections. Dow Jones, S&P 500 and Nasdaq react to the new political scenario
Coverage Details
Bias Distribution
- 55% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
