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Stocks rally after Democrats march to midterm victories
Investors welcomed reduced policy uncertainty as clean-energy shares surged and Treasury yields eased, while Tesla, SpaceX and Trump Media 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.
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The Dow Jones rose more than 1,200 points after the Democratic triumph in Congress. Solar actions shot up, while Tesla, Trump Media and Nvidia fell.
The European Stock Exchanges fired on Wednesday (4), in line with the optimism seen in the American markets after the results of the mid-term elections in the United States. The assessment among operators is that the end of the lawsuit removed much of the uncertainty regarding the political direction of the US, which supports the appetite for risk. The strong fall in oil prices also contributed to the positive trend of the indices, while investo…
·Rio de Janeiro, Brazil
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Total News Sources169
Leaning Left29Leaning Right23Center52Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 28%
C 50%
R 22%
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