[Ed. – The markets love a divided Congress.]
U.S. stocks rose broadly on Wednesday after the midterm election results came in about as expected, lifting a cloud of uncertainty that was weighing on the market.
The major averages hit their session highs after President Donald Trump indicated he is willing to work with Democrats on policy initiatives that would help the economy keep growing.
The Dow Jones Industrial Average rose 373 points, to break above 26,000, led by UnitedHealth and Microsoft. The S&P 500 gained 1.6 percent as the health care and tech sectors both rallied more than 2 percent. The Nasdaq Composite rose 2.2 percent.
“Hopefully we can all work together next year to continue delivering for the American people, including on economic growth, infrastructure, trade, lowering the cost of prescription drugs, ” Trump said in a news conference. “The Democrats will come to us with a plan for infrastructure, a plan for healthcare, a plan for whatever they’re looking at and we’ll negotiate.”