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.…
U.S. stocks experienced a notable surge on Wednesday, driven by the party of President Donald Trump losing its sole control of Washington during the midterm elections. The S&P 500 climbed 1.8 percent, bringing the index closer to its best performance in three months. The Dow Jones Industrial Average climbed 1,112 points, or 2.1 percent, while the Nasdaq composite rose 2.4 percent by 10 a.m. Eastern time.
Solar-power companies played a key role in propelling stocks higher as investors grappled with the implications of the election results. Wall Street analysts were cautioning against being caught up in the election's aftermath, as they maintain that stock prices are more influenced by company earnings and interest rates than political control in Washington.
Strategists had previously advised investors to remain focused on long-term factors rather than short-term election outcomes. The rally in stocks was primarily a result of optimism surrounding the economy and company performance, rather than the political landscape. Investors are also keeping a close eye on potential risks to Trump's social-media company, the artificial-intelligence sector, and Elon Musk's businesses, which all saw heavy donations to Republican candidates.
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- US stocks rally toward their best day in 3 months koreatimes.co.kr
