U.S. stocks surged midweek as Wall Street digested the Democratic Party’s decisive midterm victory.
The blue-chip Dow Jones Industrial Average—an index of 30 large publicly traded companies—surged about 1,000 points, or around 2 percent, before the opening bell on Nov. 4.
The broad-market S&P 500 also rose nearly 100 points, or 0.9 percent. Tech stocks were under pressure, with the Nasdaq Composite Index seesawing between positive and negative territory.
Democrats scored majorities in the House of Representatives and the Senate. The blue wave also notched victories in several key gubernatorial races, including Texas.
Investors also welcomed signs that the election outcome would be broadly accepted, helping reduce political uncertainty….