Stocks rally -- and the Dow soars more than 1,000 points -- after midterm elections

U.S. stocks jumped on Wednesday as Wall Street tried to gauge the impact of midterm elections that delivered major losses for President Donald Trump’s party. Early trading showed the S&P 500 up 1.2%, while the Dow Jones Industrial Average gained 1,178 points (2.3%) and the Nasdaq rose 1.1% as of 9:35 a.m. Eastern. Analysts warned the initial moves may fade, citing uncertainty about what the results mean. Strategists said history suggests markets often perform better in the six months after midterms, regardless of the winner, and that “earnings trump elections.” Early losers included Trump Media and Tesla, down 9.1% and 5.2% respectively.