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US stocks trade higher after midterm elections

IANS  |  New York 

US stocks traded higher on Wednesday after the results of the country's midterm elections came out as expected.

The Dow Jones Industrial Average increased 274.27 points, or 1.07 per cent, to 25,909.28. The was up 34.71 points, or 1.26 per cent, to 2,790.16, reported.

The Index rose 131.19 points, or 1.78 per cent, to 7,507.15.

While four seats and dozens of seats are still in contest, it is almost certain that the will gain control of the of Representatives and the will solidify its grip on the

Investors were bullish following the result as they believed that gridlock in will help the market.

They expected US Donald Trump's pro-business policies to continue and that the will provide a larger check on his disruptive moves such as his trade policies toward the country's major trading partners.

Investors were also closely monitoring what the central has to say as the Federal Reserve kicked off a two-day meeting on Wednesday.

The Fed is largely expected to keep the rates unchanged this month and raise rates again in December. Concerns about the pace of hikes led to market last month.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 23:56 IST
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