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.
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109 Articles
The Independent
The Independent (US)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
U.S. Stocks Rally Following Democrats' Decisive Midterm Election Victory
Stocks have moved sharply higher during trading on Wednesday, with the major averages all showing strong moves to the upside following the mixed performances seen in each of the two previous sessions. The rally on Wall Street comes following Democrats' decisive victory in the midterm elections on Tuesday.
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...
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