Dow rises nearly 3% after US midterm elections

The Dow Jones rose nearly 3% on 4 November 2026, its best day in over a year. The S&P 500 and the technology-heavy Nasdaq each closed about 1.5% higher, The Guardian’s completed-session account said. The gains reversed overnight declines in US stock futures, contracts tied to the future value of stock indexes.

Democrats won control of the Senate and the House of Representatives in the midterm elections, setting up divided government with Republican President Donald Trump in the White House.

Investors weigh the election result

Clayton Allison, a portfolio manager at Prime Capital Financial, said confirmation of the election outcome brought certainty to markets, even though some of the result had already been priced in. He said questions remained about what Washington would accomplish over the next two years.

During trading, the dollar index, which measures the US currency against a basket of six currencies, reached a one-month low.

Tai Hui, a market strategist at JP Morgan Asset Management, said Trump could still influence markets through trade and tariffs, foreign policy and existing regulations.