Dow Gains 1,236 Points as Midterm Results Ease Market Uncertainty

The Dow Jones Industrial Average climbed 1,236 points, or 2.4%, Wednesday as Democrats' victories in both chambers of Congress and President Donald Trump's acceptance of the midterm results eased political uncertainty across US markets.

The index had gained 1,022 points, or 2%, shortly after the opening bell before extending its advance. The S&P 500 rose 1.7%, and the Nasdaq Composite added 2.1%, putting gains across the three major US stock indexes.

Healthcare and solar stocks led some sector moves. Molina Healthcare and Centene each rose 6%, HCA Healthcare added 7%, and the Invesco Solar ETF jumped 9%. Walmart gained 1.3%, while Bank of America climbed 2.6%.

Some data-center-linked stocks moved lower. CoreWeave and SpaceX declined after Gina Hinojosa won the Texas governor's race. Hinojosa had pledged an immediate moratorium on data centers in the state.

West Texas Intermediate crude fell 3% Wednesday as markets weighed prospects for a resolution to the Middle East conflict. The broad move adds a US political and macroeconomic development to the backdrop crypto traders monitor.