Wall Street rallied at the close on Wednesday 4 November 2026, as investors reacted to the Democrats winning control of both chambers of the US Congress in the midterm elections. The Dow Jones Industrial Average jumped 3%, up 1,569.40 points to 53,356.12, while the S&P 500 rose 1.6% to 7,688.62 and the Nasdaq Composite gained 1.4% to 25,736.51, according to The Times.

Communication services, consumer discretionary and technology shares led the advance, while energy shares were the biggest losers as crude prices fell. The reports linked the rally to expectations that a divided government would moderate some of the president's more controversial policies, including tariffs, with one market strategist quoted as saying markets hate uncertainty.

Not all shares rose

Tesla fell 3.3% and Trump Media & Technology Group fell 24.5% to $4.49, reported as a record closing low, showing that the broad rally did not lift every stock. Analysts also warned that the president could use the lame-duck period to escalate strikes on Iran, and Capital Economics warned that renewed strikes could push oil above $120.

Market news is not investment advice, and a single day's rally does not by itself signal a lasting trend.

Sources: The Times, Wall Street braces for tech sell-off after Republican midterm defeat, 4 November 2026; Ausecure, Gold market close, 4 November 2026.