Financial Markets
FILE - Options traders Ilya Bosinzon, left, and Justin Kanda work on the floor of the New York Stock Exchange, Wednesday, June 3, 2026.
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U.S. stocks are surging after President Donald Trump’s party lost its sole control of Washington in the midterm elections. Stocks generally do well in the months following any midterm U.S. election, regardless of who wins, and the S&P 500 soared 1.8% Wednesday. The Dow Jones Industrial Average leaped 1,112 points, and the Nasdaq composite rose 2.4%. Stocks of solar-power companies helped lead the way as Wall Street tried to sort the winners and losers from the widespread losses for Republicans. Investors, meanwhile, see risks ahead for Trump’s social-media company, the AI industry and businesses owned by Elon Musk.
