From CNBC · Sean Conlon,Hugh Leask · · 2m
Dow Rallies 1,500 Points on Democratic Win
Dow jumps 1,511 points as Democrats win U.S. midterms, oil prices plunge.
In brief
Dow jumps 1,511 points as Democrats win U.S. midterms, oil prices plunge. Dow Jones Industrial Average rises 1,511 points to 53,000 after Democrats win U.S. midterms and Trump accepts results. Originally reported by CNBC.
Democratic victory
Democrats won majorities in both the House of Representatives and Senate.
Trump accepts results
President Donald Trump said he was 'absolutely willing' to accept the election results.
Dow jumps 1,511 points
The Dow Jones Industrial Average traded 1,511 points, or 2.9%, higher.
Market heads for best day
The Dow moved back above 53,000 for the first time since Sept. 8 and was on pace for its best day since April 9, 2025.
Oil prices plunge
Brent futures traded more than 8% lower as Vice President JD Vance blamed the Iran war for election losses.
Market strategist comments
Jay Woods, chief market strategist at Freedom Capital Markets, said the rebound was in part due to Trump's initial tone and reaction.
Investor sentiment
Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, said there's more pressure to end the war.
AI stock concerns
Shares of CoreWeave dropped more than 7% as investors feared Democratic restrictions on data centers.
Texas governor race
Gina Hinojosa, Democratic candidate, won the Texas governor race with a pledge for an immediate moratorium on data centers.
Market reaction to Texas
Texas represents about 27% of U.S. data center gigawatts, according to Wells Fargo estimates.
Consumer staples rally
The State Street Consumer Staples Select Sector SPDR ETF (XLP) hit a fresh all-time record.
Magnificent Seven stocks
Magnificent Seven stocks rallied Wednesday morning, breaking away from the broader AI trade that was in a downturn.
Oil price impact
Brent futures traded more than 8% lower as Vice President JD Vance blamed the Iran war for election losses.
Market volatility
VIX futures moved higher on Tuesday evening as U.S. equity futures came under pressure amid election results.
Treasury yields fall
Treasury yields moved lower as investors sought shelter from a sell-off in equity futures.
Market outlook
The S&P 500 has risen after each of the last 11 midterm elections between 1982 and 2022.
The main idea
Dow Jones Industrial Average rises 1,511 points to 53,000 after Democrats win U.S. midterms and Trump accepts results.
