U.S. stocks rose Wednesday morning, as investors put the uncertainty of midterms behind them.
The Democrats took control of the House and the Republicans maintained control of the Senate, a situation that, according to history, is good for U.S. stocks.
According to Dow Jones Market Data, analyzing markets and election data going back to 1
970, this scenario is the best case for U.S. stocks one year after a election, with the broad-based S & P 500 index up 19.9 percent, on average one year later.
Some investors were concerned about the Democrats would sweep the Republicans in tight races in a so-called “blue wave”, yet such a landslide did not occur. The Democrats, especially those seen as potential presidential contenders in 2020, saw victory. Late. Bernie Sanders or Vermont and Sen. Elizabeth Warren or Massachusetts won their races. FOX Business has been covering the national and local economic and business issues impacting voters.
On Wednesday, when investors digest the race results, many will also turn their attention to the Federal Reserve, which begins its two -day November meeting.
|I: DJI||DOW JONES AVERAGES||25853.02||+218.01||+ 0.85%|
|I: COMP||NASDAQ COMPOSITE INDEX||7375.9644||+47.11||+ 0.64%|
|SP500||S & P 500||2755.45||+17.14||+ 0.63%|
US Equities climbed Tuesday. The Dow Jones Industrial Average
it gained 173.31 points, the S & P 500 was up 17.14 points and the Nasdaq Composite climbed 47.11.
Fox Business’ Suzanne O’Halloran contributed to this article.