Dow Surges 1,569 Points as Wall Street Rallies After Democrats Win Congress

Wall Street rallied hard on Wednesday, November 4, 2026, the day after Democrats won majorities in both the House and the Senate in the midterm elections. The Dow Jones Industrial Average closed up 1,569.40 points, or 3.03 percent, at 53,356.12.

The S and P 500 closed up 119.70 points, or 1.58 percent, at 7,688.62. AP said it was the index's best day in three months. The Nasdaq Composite closed up 364.50 points, or 1.44 percent, at 25,736.51. The Russell 2000 closed up 44.51 points, or 1.58 percent, at 2,856.95.

The close capped a sharp turn from overnight trading. Nasdaq 100 futures had fallen as much as 2.4 percent as midterm results came in overnight, before recovering ahead of the open, Reuters reported.

Hospital owners and dollar stores led the advance

Hospital owners and dollar stores led the gains. HCA Healthcare rose 10.3 percent and Dollar Tree rose 9.6 percent. First Solar rose 4.6 percent and Enphase Energy rose 3.7 percent. Alphabet rose 3.2 percent.

AI, defense and oil stocks fell. Nvidia fell 3.1 percent and was the heaviest weight on the S and P 500. CoreWeave fell 9.9 percent. Tesla fell 3.3 percent, and Trump Media and Technology Group fell 24.5 percent.

Among defense companies, Lockheed Martin fell 6.9 percent, Northrop Grumman fell 4.5 percent and General Dynamics fell 2.6 percent. In energy, ExxonMobil fell 4.6 percent and ConocoPhillips fell 5.2 percent.

Oil fell and bond yields eased

Brent crude fell 8.7 percent to $94.62 a barrel, after touching its lowest level in two months. AP tied the oil fall to the possibility that a Democratic led Congress could push for a pullback in the war with Iran.

The 10 year Treasury yield fell to 4.88 percent from 4.95 percent late Tuesday.

How the day unfolded

Trading started with the overnight drop still in view. Futures pointed down while election results were counted, then buyers came in during the regular session and the main indexes built gains into the close. All four indexes tracked in this report finished higher on the day.

The numbers at the close

Dow Jones Industrial Average: 53,356.12, up 1,569.40 points, up 3.03 percent. S and P 500: 7,688.62, up 119.70 points, up 1.58 percent. Nasdaq Composite: 25,736.51, up 364.50 points, up 1.44 percent. Russell 2000: 2,856.95, up 44.51 points, up 1.58 percent. Brent crude: $94.62 a barrel, down 8.7 percent. The 10 year Treasury yield: 4.88 percent, down from 4.95 percent late Tuesday.

Brian Jacobsen of Annex Wealth Management summed up the day in three words quoted by AP: "Earnings trump elections."