US stocks rally toward their best day in 3 months, and the Dow soars more than 1,000 points
- 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.
59 Articles
59 Articles
Why the Dow Is Surging on the Election Results
Wall Street took a deep exhale on Wednesday morning. Stocks raised after Democrats scored control of both the House and Senate and President Trump said he was "absolutely willing" to accept the midterm results and work with them. The Dow is trading up about 1,100 points, or more than...
The victory of the Democrats in Tuesday's mid-term elections in the United States raises fears of stricter regulation of artificial intelligence (AI), but reassures the trajectory of the US debt
Stock Market Takes New Turn After Decisive Midterm
Wall Street came roaring back Wednesday morning, with the Dow Jones Industrial Average surging more than 1,000 points after Democrats captured control of Congress in Tuesday’s midterm elections. The sharp rally came as investors reacted to President Donald Trump’s acceptance of the results and the prospect of a divided Washington, where neither party will have […]
The New York Stock Exchange (NYSE) has opened up a significant rise in key indices, against the background of the democrat victory in the US Congress interim elections. The Dow Jones Industrial Index has increased by 2.37 per cent to 53 015.70 points. The S&P index added 1.75 per cent and reached 7,701.23 points, while the Nasdaq index has increased by 2.14% and reached 25,914.60, TASS.Experts note that a divided power will bring stability to th…
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