Dow Soars 1,569 Points as Democratic Midterm Sweep and Oil Slump Lift US Stocks

Mumbai, 5 November 2026: US equities rose in the closing session as the Democratic Party’s midterm sweep and a sharp oil decline shaped trading across the major indices. The Dow Jones Industrial Average gained 1,569.40 points, or 3.03%, the S&P 500 rose 1.58%, while the Nasdaq Composite gained 1.44%. Broader performance reflected political clarity, lower Treasury yields and a sell-off in crude oil, with movements across cyclical, defensive, energy and technology-linked shares influencing the session.

Dow Jumps 1,569 Points as Democratic Sweep Lifts Cyclicals

The Dow Jones Industrial Average opened at 52,410.23 and closed at 53,356.12, gaining 1,569.40 points, or 3.03%. The index touched an intraday high of 53,492.40 and a low of 52,410.23. Movements in 3M, Microsoft, Sherwin-Williams, McDonald’s and Home Depot contributed to the index’s performance, with shares of 3M rising 8.97%, Microsoft gaining 6.72%, Sherwin-Williams adding 6.64%, McDonald’s rising 6.53% and Home Depot gaining 6.38%. On the downside, Caterpillar fell 5.09% and Chevron declined 3.69%. The session followed the Democratic Party’s victory in both chambers of Congress and President Donald Trump’s acceptance of the results, which affected trading across major US equities.

The Dow’s move placed the 30-stock benchmark above 53,000 for the first time since 8 September 2026, according to closing data. The index’s advance was broad, with gains in industrial, consumer, technology and financial constituents offsetting weakness in energy and machinery shares. The closing range of 1,082.17 points between the session low and high reflected active trading through the day. The move followed the removal of immediate political uncertainty after the midterm elections, while the decline in crude oil prices also coincided with the index’s advance.

Within the Dow, the strongest daily contributors were 3M, Microsoft, Sherwin-Williams, McDonald’s and Home Depot, while Caterpillar and Chevron were the weakest. The index’s performance was not confined to one sector, as consumer, industrial and financial names recorded gains. The daily close of 53,356.12 compared with a previous close of 51,786.72, a difference of 1,569.40 points. The session’s trading followed the Democratic sweep, which created expectations of divided government and reduced the likelihood of sweeping legislative changes.

S&P 500 Gains 1.58% as Election Clarity Lifts Breadth

The S&P 500 opened at 7,635.81 and ended at 7,688.62, gaining 119.70 points, or 1.58%. During the session, the index reached 7,715.57 at its high and 7,635.81 at its low. Movements across consumer discretionary, communication services, financials, health care and industrials influenced the broader benchmark, while Booking Holdings, Intuitive Surgical, 3M, McDonald’s and Home Depot recorded notable changes of 10.17%, 9.38%, 8.97%, 6.53% and 6.38% respectively. The index’s closing performance came as the Democratic midterm sweep and falling oil prices affected market trading.

The benchmark’s close of 7,688.62 compared with a previous close of 7,568.92. The intraday range was 79.76 points, with the session high of 7,715.57 and low of 7,635.81. The index’s advance followed the election outcome, which removed immediate political uncertainty, while the oil price decline coincided with gains across several cyclical and defensive groups. The benchmark’s breadth was positive, with eight of the 11 S&P 500 sectors advancing, according to the available closing data.

Among S&P 500 constituents, Booking Holdings rose 10.17%, Intuitive Surgical added 9.38%, 3M gained 8.97%, McDonald’s rose 6.53% and Home Depot gained 6.38%. On the losing side, Datadog fell 14.12%, Eaton declined 9.50%, GE Vernova lost 9.08%, Dell Technologies fell 8.55% and Lockheed Martin dropped 6.79%. The index’s closing move reflected the broader market response to the election result, with gains in consumer and industrial names offsetting weakness in selected technology, defence and energy-linked shares.

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Nasdaq Adds 1.44% as Apple and Microsoft Offset Chip Losses

The Nasdaq Composite opened at 25,652.78 and closed at 25,736.51, marking a gain of 364.50 points, or 1.44%. Its intraday high stood at 26,048.83, while the low was 25,602.14. Technology and growth-oriented shares including Apple, Microsoft, Shopify, AppLovin, Airbnb and Netflix recorded movements of 5.42%, 6.68%, 7.32%, 7.53%, 5.55% and 4.56% respectively, contributing to the index’s daily performance. The technology-heavy benchmark responded to the Democratic election sweep and the resulting reassessment of data centre and semiconductor exposure during the session.

The Nasdaq’s close of 25,736.51 compared with a previous close of 25,372.01, while the session range was 446.69 points. The index opened at 25,652.78 and traded as high as 26,048.83 before closing below that level. The advance was uneven, as gains in large software, consumer internet and consumer discretionary shares offset declines in memory, storage and semiconductor-linked constituents. The session’s trading followed the Democratic victory in Congress, which affected expectations for data centre construction and AI infrastructure spending.

Within the Nasdaq, AppLovin rose 7.53%, Shopify gained 7.32%, Airbnb added 5.55%, Netflix rose 4.56% and Comcast gained 5.11%. On the downside, Seagate Technology fell 8.14%, Marvell Technology dropped 7.23%, Western Digital declined 6.72% and Micron Technology lost 6.75%. The index’s closing gain came as large-cap technology shares advanced, while semiconductor and data centre-linked names faced pressure following the election outcome.

Russell 2000 Gains 1.52% as Smaller Stocks Track Risk-On Move

The Russell 2000 opened at 2,856.26 and closed at 2,855.31, gaining 42.86 points, or 1.52%. It recorded an intraday high of 2,875.14 and a low of 2,831.51. Movements among smaller-cap companies, including Rhythm Pharmaceuticals, LivaNova, Hecla Mining, Nextracker and RadNet, contributed to the benchmark’s performance as the broader risk-on move and the Democratic election sweep influenced trading.

Among Russell 2000 constituents, Rhythm Pharmaceuticals rose 22.93%, LivaNova gained 18.40%, Hecla Mining added 13.25%, Nextracker rose 11.12% and RadNet gained 10.28%. On the losing side, Hut 8 fell 22.82%, Sterling Infrastructure dropped 21.36%, IES Holdings declined 16.87%, Argan lost 16.53% and GRAIL fell 15.38%. The index closed at 2,855.31, compared with a previous close of 2,812.45, and the session range was 43.63 points.

S&P 100 Gains 1.86% as Large Caps Ride Election Relief

The S&P 100 opened at 3,767.93 and finished at 3,795.99, recording a gain of 69.17 points, or 1.86%. The index traded between 3,767.93 and 3,816.73 during the session. Movements in major large-cap constituents contributed to its daily performance as markets responded to the Democratic midterm sweep and lower oil prices. The index’s close compared with a previous close of 3,726.82, while the session high of 3,816.73 remained above the closing level.

The large-cap benchmark’s advance coincided with gains across consumer discretionary, communication services, financials and selected technology shares. The index’s intraday low matched its opening level of 3,767.93, while the high of 3,816.73 reflected the session’s strongest level. The daily move followed the election result and the decline in crude oil, which affected trading across major US equity benchmarks.

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Dow Composite Adds 2.25% as Transports and Utilities Diverge

The Dow Jones Composite Average opened at 16,709.85 and closed at 16,777.94, gaining 368.98 points, or 2.25%, after moving between 16,570.07 and 16,804.38. The Dow Jones Transportation Average ended at 20,830.98, compared with an opening level of 20,711.45, representing a 1.12% move, or 231.30 points. The Dow Jones Utility Average closed at 1,113.69, changing 0.087%, or 0.97 points, from its opening level of 1,119.44. Movements in relevant constituents reflected the session’s broad election-driven trading and the divergence between transport and utility shares.

The transportation average traded between 20,619.13 and 21,050.62, while the utility average ranged from 1,091.30 to 1,119.44. The composite average’s close of 16,777.94 compared with a previous close of 16,408.96. The utility index’s modest gain contrasted with the stronger advances in the industrial and transport-linked components of the composite, while the transport average’s move reflected gains across transportation constituents.

SOX Falls 3.13% as Data Centre Curbs Hit Chip Shares

The Philadelphia Semiconductor Index (SOX) opened at 10,485.88 and closed at 10,268.65, losing 331.74 points, or 3.13%. Its intraday high was 10,652.02, while the low was 10,064.73. Semiconductor-related constituents such as Nvidia, Micron Technology, Broadcom and AMD moved -2.98%, -6.75%, -2.15% and +1.02% respectively, contributing to the sector benchmark’s daily performance amid expectations of tighter data centre restrictions after the Democratic sweep.

The SOX closed at 10,268.65, compared with a previous close of 10,600.40, and the session range was 587.29 points. The index opened at 10,485.88 and reached 10,652.02 before declining to 10,064.73. The move followed the election outcome, which raised the prospect of new obstacles for data centre construction in key states. The benchmark’s decline coincided with weakness in memory and semiconductor shares, while AMD was the notable gainer among the named constituents.

NYSE Composite Gains 1.49% as Market Breadth Turns Positive

The NYSE Composite Index opened at 24,585.71 and closed at 24,668.92, recording a gain of 361.87 points, or 1.49%. The index traded between 24,468.71 and 24,693.00 during the session. Movements across industrial, financial, consumer and energy-linked segments contributed to its performance as the Democratic election sweep and falling oil prices shaped broader US equity trading.

The composite’s close was 24,668.92, compared with a previous close of 24,307.04. Market breadth on the New York Stock Exchange favoured gainers by more than a 3-to-1 ratio, according to the closing data. The session high of 24,693.00 was reached during the day, while the low of 24,468.71 remained above the previous close. The index’s advance reflected the broad participation across NYSE-listed shares.

MidCap 400 Gains 0.69% as SmallCap 600 Adds 1.42%

The S&P MidCap 400 opened at 3,729.54 and closed at 3,725.70, moving 25.45 points, or 0.69%, with an intraday range of 3,687.45–3,746.89. The S&P SmallCap 600 opened at 1,727.91 and ended at 1,738.26, gaining 24.28 points, or 1.42%, after trading between 1,726.65 and 1,751.37. The two benchmarks reflected movements among mid- and small-cap shares as the election result and oil price decline affected the wider market.

The MidCap 400’s close compared with a previous close of 3,700.25, while the SmallCap 600’s close compared with 1,713.98. The mid-cap benchmark’s high of 3,746.89 and low of 3,687.45 produced a range of 59.44 points, while the small-cap benchmark’s range was 24.72 points. The small-cap gauge outperformed the mid-cap index on the day, as smaller shares tracked the broader risk-on move.

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Oil Slump and Election Sweep Drive Broad US Market Gains

The principal market catalyst was the Democratic Party’s victory in both chambers of Congress in the midterm elections. The result removed immediate political uncertainty, and President Donald Trump said he would accept the results and work with Democrats. The prospect of divided government reduced expectations for sweeping legislative changes. Treasury yields fell, while West Texas Intermediate crude dropped below $90 a barrel and Brent crude fell nearly 8%. These developments coincided with the day’s movement across the major US equity benchmarks.

A second catalyst was the decline in oil prices after Vice President JD Vance linked the Republican Party’s election losses to the Iran war, which heightened expectations of a possible de-escalation. WTI crude traded at $88.74, down 7.65%, while Brent crude traded at $95.70, down nearly 8%. The oil move coincided with gains in consumer, financial and industrial shares, while energy stocks declined. Trading remained focused on the election outcome, data centre policy and the war’s effect on crude prices, with movements across sectors reflecting the day’s broader market conditions.

The session also reflected the market’s assessment of AI infrastructure policy after Democratic gains in states including Texas and Georgia. Those results raised the possibility of restrictions or moratoriums on data centre construction. Companies tied to data centre operations fell, while large technology and consumer internet shares advanced. The Nasdaq-100 had confirmed a technical correction on Monday, and the session’s trading followed that backdrop. The combination of election clarity, lower yields and cheaper oil shaped trading across the major indices.

VIX Falls 18.87% as Volatility Cools After Election Result

The CBOE Volatility Index (VIX) changed -18.87% to 16.90, compared with its previous close of 20.83. The index measures expected volatility in the S&P 500 over the coming 30 days. Its movement during the session coincided with the equity rally, the Democratic election sweep and the sharp decline in crude oil prices. The VIX opened at 19.20, traded between 16.59 and 19.22, and closed at 16.90.

The decline in the volatility gauge followed the removal of immediate election uncertainty and the market’s positive response to divided government. The index’s close of 16.90 compared with a session high of 19.22 and a low of 16.59. The move coincided with gains across the major US equity benchmarks and a fall in Treasury yields.

Eight S&P 500 Sectors Rise as Energy Falls 5.1%

Performance across the 11 S&P 500 sectors was mixed, with eight sectors rising and two declining. Consumer Discretionary recorded the strongest move at 5%, while Energy fell 5.1%. Communication Services gained 4.07%, and the Consumer Staples ETF rose 3.70%. Information Technology, Financials, Health Care, Industrials, Utilities, Real Estate and Materials were among the advancing groups, while one other sector declined alongside Energy.

The sector movements followed the election result and the oil price decline. Consumer discretionary and communication services shares gained as large technology and consumer internet constituents advanced. Energy shares fell alongside crude oil, while defensive groups including consumer staples and health care also recorded gains. The available closing data showed broad participation across the benchmark, with the energy sector the weakest group.

Magnificent Seven Diverge as Apple and Microsoft Hit Records

Among the Magnificent Seven, Apple moved 5.42%, Microsoft changed 6.68%, Amazon recorded 6.05%, Alphabet gained 3.64%, Meta Platforms added 1.47%, Nvidia fell 2.98% and Tesla declined 3.29%. Apple reached an all-time high of $354.33, with its market capitalisation above $5.12 trillion, while Microsoft also hit a record. Their daily movements contributed to the performance of major US equity benchmarks.

The divergence within the group reflected the session’s split between large software and consumer internet shares and semiconductor and electric vehicle constituents. Apple and Microsoft advanced as large-cap technology shares recovered, while Nvidia and Tesla declined. Amazon and Alphabet also gained, contributing to the Nasdaq Composite’s advance. The group’s performance coincided with the election result and the reassessment of data centre and AI infrastructure exposure.

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Chip Stocks Fall as Financial and Defensive Shares Advance

Semiconductor stocks were lower, with the Philadelphia Semiconductor Index moving -3.13%. Financial stocks recorded gains, with JPMorgan Chase up 4.18%, Bank of America up 4.11%, Morgan Stanley up 4.23%, Goldman Sachs up 3.70%, Visa up 2.93% and Mastercard up 3.93%. Energy stocks moved lower alongside crude oil prices, with Exxon Mobil down 4.62% and Chevron down 3.69%. AI and growth stocks were mixed, with movements among relevant constituents contributing to the technology-heavy indices.

Data centre-linked shares faced pressure, with IREN falling 12% and Hut 8 dropping 24%, while Applied Digital and Core Scientific also declined. An exchange-traded fund tracking AI infrastructure stocks fell 10%. Large cloud and consumer internet shares advanced, including Amazon, Alphabet and Meta Platforms. The session’s trading reflected the split between companies tied to data centre construction and those less exposed to infrastructure spending.

ISM Services Slips to 54.5 as ADP Adds 86,000 Jobs

The latest economic data showed the ISM services index at 54.5, compared with 54.9 in September and expectations of 54.8. New orders stood at 55.9, down 3.9 points, while employment rose to 51.4 from 50.1. The prices paid measure eased to 73.0 from 74.0 but remained elevated. The S&P Global services index fell to 56.1 from 58.8 in September.

The ADP employment report showed private companies added 86,000 jobs in October, matching a revised 86,000 in September and exceeding the 67,000 expectation cited in the closing data. Base wages for private-sector workers rose 3.2%, while gross pay increased 4.7%. The releases provided the latest information on services activity, hiring and wage growth during the session. The data followed the election result and the oil price decline, which shaped trading across the major indices.

Treasury Yields Fall as Election Gridlock Eases Fiscal Concern

The Federal Reserve was not cited as a direct catalyst in the session’s closing reports, while markets assessed the election result and its effect on fiscal policy. The 2-year US Treasury yield stood at 4.577%, the 10-year yield was 4.884% and the 30-year yield was 5.277%. The 10-year yield fell 6.6 basis points, the 30-year yield declined 4.7 basis points and the 2-year yield dropped 3.7 basis points.

The yield moves followed expectations that divided government would make it harder to pass fiscal stimulus. Treasury trading coincided with the Democratic sweep and the decline in oil prices. The dollar weakened against a basket of major currencies, while equity benchmarks advanced. The session’s bond-market movement reflected the market’s assessment of the election outcome and the reduced likelihood of sweeping fiscal changes.

Oil Plunges 7.65% as Gold and Dollar Diverge on Election

West Texas Intermediate crude traded at $88.74, moving -7.65%, while Brent crude stood at $95.70, down nearly 8%. Gold traded at $4,043.45, changing 2.93%, while silver moved 4.44% to $51.98. The commodity moves followed the election result and the oil price decline, with crude falling after Vice President JD Vance linked the Republican losses to the Iran war and expectations of a possible de-escalation increased.

The US Dollar Index (DXY) moved -0.35% to 101.513. EUR/USD stood at 1.1235, GBP/USD traded at 1.3476. Currency movements followed the election outcome and the decline in Treasury yields. Gold and silver advanced as the dollar weakened, while crude oil fell sharply. The session’s commodity and currency moves coincided with the broader equity rally and the drop in volatility.

The closing session was shaped by the Democratic midterm sweep, lower Treasury yields and a sharp oil decline. The Dow gained 3.03%, the S&P 500 1.58% and the Nasdaq 1.44%, while the VIX fell 18.87%. These figures summarise the session’s index, sector, bond, commodity and currency developments.