The key facts

  • The Dow Jones rose 1,042 points (2.01%) to 52,828.73 at the opening of trading
  • Democrats will control both chambers of Congress from January and will be able to block White House bills
  • The VIX volatility index fell 14.83%, gold rose 2.77%, and WTI oil fell 3.19%

Markets reacted with a rally to the election results

US stock indices opened higher on Wednesday after the midterm elections, in which Democrats won control of both chambers of Congress. The report comes from Anadolu. The Dow Jones index rose 1,042.01 points, or 2.01%, to 52,828.73 at the start of trading. The S&P 500 gained 92.40 points (1.22%) to 7,661.32, and the Nasdaq Composite added 308.96 points (1.22%) to 25,680.97.

What changed politically

Democrats will take control of both chambers of Congress in January, giving them enough votes to block bills backed by the White House. According to the outlet, President Donald Trump said he accepts the election results. In addition, Democrats won the Texas gubernatorial race: the winner, Gina Ortiz Jones, had previously promised to immediately impose a moratorium on the construction of new data centers.

Other markets

The Cboe Volatility Index (VIX), which reflects expected swings in the S&P 500, fell 14.83% to 17.74. The yield on 10-year US Treasury bonds declined 2.3 basis points to 4.927%, and the euro rose 0.57% to $1.126. Gold futures climbed 2.77% to $4,049.70 per ounce, while WTI crude oil futures, the US benchmark, fell 3.19% to $93.02 per barrel. The report reflects data as of the morning trading session; the day's final results and subsequent market movements are not included.