The Dow Jones Industrial Average DJIA, +1.77% was rallying on Wednesday, rising above a psychological level at 26,000 for the first time in about a month as markets staged a relief rally following midterm elections. The Dow was recently up nearly 380 points, or 1.5%, at 26,015, putting the blue-chip gauge on track for its best day since Oct. 30 and its best finish since Oct. 9, according to FactSet data. The index also was attempting to creep above a key line in the sand, trading above its short-term 50-day moving average at 25,863.29 for the first time since early last month. A rally in U.S. equity benchmarks comes after closely watched midterm elections resulted in a divided Congress, with Democrats taking the House and the GOP retaining control of the Senate. The split may result in gridlock in Washington, delaying the legislative agenda for Republican President Donald Trump but some investors were viewing the elections as at least removing one measure of uncertainty from markets that have been knocked around by a plethora of anxieties.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.