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  5. Dow Jones skyrockets 3% as Democrats score decisive victory in midterm elections

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Dow Jones skyrockets 3% as Democrats score decisive victory in midterm elections

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

2 min read | Updated on November 05, 2026, 08:02 IST

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SUMMARY

Dow Jones Industrial Average advanced 3.03% to settle at 53,356.12, while the S&P 500 rose 1.58% to 7,688.62. The tech-heavy NASDAQ Composite surged 1.44% to 25,736.51.

Brent Crude was down 1.07% to $93.62 per barrel, while the West Texas Intermediate slipped 0.84% to $87.38 a barrel.

Brent Crude was down 1.07% to $93.62 per barrel, while the West Texas Intermediate slipped 0.84% to $87.38 a barrel. | Image: Shutterstock

The US stocks rallied on Wednesday after a clear-cut win for the Democrats in the US midterm elections – both in the House of Representatives and Senate.
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Dow Jones Industrial Average advanced 3.03% to settle at 53,356.12, while the S&P 500 rose 1.58% to 7,688.62. The tech-heavy NASDAQ Composite surged 1.44% to 25,736.51.

Brent Crude, the international standard, was down 1.07% to $93.62 per barrel, while the West Texas Intermediate (WTI) slipped 0.84% to $87.38 a barrel.

US President Donald Trump also accepted results, which removed the political uncertainty and helped stocks rise.

In an interview with The New York Times, he said, "I think the Democrats did a good job. I really do. I think they did a good job. They fought hard."

"Stock Market just hit another Record High — 91 Days in just a short period of time — Less than two years. Your 401(k)s are through the roof. Record Setting All!" Trump said in a separate post.

ALSO READ | Will midterms setback derail Trump's foreign policy agenda or will he be 'Mr Veto'?

The results are expected to bring a slowdown in expansion of artificial intelligence infrastructure and could ease cash demands.

Apple shares ended 5.31% higher at $349.51 per share as investors anticipate that construction of data centres would calm down memory chip prices.

Moderna (13.01%), Expedia Group (10.53%), Doordash (8.33%), Microsoft Corporation (6.68%), McDonald's Corporation (6.53%), Thomson Reuters Corp (6.39%), Amazon (6.11%), Apple (5.30%), Nike (5.22%), JPMorgan Chase & Co (4.18%) and The Walt Disney Company (4.17%), among others, were top gainers.

NVIDIA Corporation fell 3.11% as part of a broader sell-off in semiconductor stocks over concerns that data centre construction could lose momentum.

Micron Technology was down 7%, while Broadcom declined 2%.

Shares of Elon Musk's SpaceX and Tesla descended 3.81% and 3.34%, respectively. He had heavily backed Republican candidates in the midterm polls.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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