Wall Street stocks were looking at a potentially upbeat start on Wednesday, as U.S. stock futures climbed in the wake of midterm elections that delivered no major surprises and led to a weaker U.S. dollar and mostly lower Treasury yields.
How are the benchmarks performing?
Dow Jones Industrial Average futures YMZ8, +0.62% rose 137 points, or 0.5%, to 25,778, while S&P 500 futures ESZ8, +0.73% gained 16 points, or 0.6%, to 2,775. Nasdaq-100 NQZ8, +0.94% jumped 60.25 points, or 0.8%, to 7,074. DJIA, +0.68%
On Tuesday, the Dow Jones Industrial Average DJIA, +0.68% rose 173.31 points, or 0.68%, to 25,635.01, the S&P 500 index SPX, +0.63% rose 0.63%, and the Nasdaq Composite Index COMP, +0.64% climbed 0.64%, or 47.11 points, at 7,375.96.
The Dow closed at a session high, while the S&P 500 and Nasdaq ended the day just shy of Tuesday’s best levels.
What’s driving the market?
U.S. midterm election results largely fell in line with forecasters’ prediction, with Democrats set to take control of the House and Republicans on track to strengthen their grip on the Senate. The results may have implications for President Donald Trump’s legislative agenda, but for now, markets look upbeat as any immediate uncertainty fades.
There have also been signals of compromise from Trump, who talked about trying to work with the opposite side as indications grew earlier in the week that Democrats would see a House victory.
Investors may quickly turn their attention to a two-day Federal Reserve meeting that wraps up on Thursday, though the central bank isn’t expected to make a move on interest rates.
Which stocks are in focus?
The prospect of gridlock in Washington, and the defeat of