U.S. stocks surge, and the Dow soars 1,500 points as Brent oil's price drops below $95 per barrel
Summary
U.S. stocks climbed Wednesday after President Donald Trump's party lost its sole control of Washington in the midterm elections. The S&P 500 rose 1.8%, while the Dow gained 1,519 points and Brent crude fell below $95 per barrel.Key Facts
- The S&P 500 was up 1.8% Wednesday.
- The Dow Jones Industrial Average gained 1,519 points, or 2.9%, as of 2:06 p.m. Eastern time.
- The Nasdaq composite rose 1.9%.
- Stocks of solar-power companies, dollar stores and hospital owners helped lead gains.
- Brent crude oil fell below $95 per barrel.
- Investors saw potential risks for Trump's social-media company, the artificial-intelligence industry and businesses owned by Elon Musk.
- Musk donated heavily to Republicans.
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