Stocks rally, and the Dow soars more than 1,000 points

Most U.S. equities rallied Wednesday as investors assessed the fallout from midterm elections that saw sharp losses for President Donald Trump’s party. Solar-power companies were among the early winners, while traders flagged risks for Trump’s social-media business and for the artificial-intelligence sector, as well as companies linked to Elon Musk after heavy Republican donations. Although futures swung between losses and gains before the market opened, the rebound held at the open: the S&P 500 rose 1.2% and the Dow gained 1,178 points (2.3%) by 9:35 a.m. Eastern, with the Nasdaq up 1.1%. Strategists emphasized that earnings and interest-rate expectations matter more than politics. Trump Media fell 9.1%, Tesla 5.2%.