US Stocks Rally Toward Their Best Day in 3 Months, and the Dow Soars More than 1,000 Points
Investors bet divided government will limit major policy shifts as Treasury yields eased and solar stocks surged while chip makers and Trump-linked firms lagged.
- 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.
44 Articles
44 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...
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 […]
US stocks rally toward their best day in 3 months
NEW YORK — U.S. stocks are surging Wednesday 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 soared 1.8 percent toward its best day in three months. The Dow Jones Industrial Average was up 1,112 points, or 2.1 percent, as of 10 a.m. Eastern time, and the Nasdaq composite was 2.4 pe…
The Democrats can make governance more difficult for US President Donald Trump in the future. Investors are looking forward to less uncertainty. Why a little uncertainty still remains.
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