US stocks opened higher on Wednesday after Democrats won control of both the House of Representatives and Senate in Tuesday’s midterm elections.
The Dow Jones Industrial Average led the gains, rising 1,042.01 points, or 2.01%, to 52,828.73 in early trading.
The S&P 500 climbed 92.40 points, or 1.22%, to 7,661.32, while the Nasdaq Composite gained 308.96 points, or 1.22%, to 25,680.97.
President Donald Trump said he accepted the election results.
Democrats will take control of both chambers of Congress in January, giving them sufficient votes to block legislation backed by the White House.
Democrats also won the governor’s race in Texas, where Gina Hinojosa had pledged to impose an immediate moratorium on new data centers.
The Cboe Volatility Index, a measure of expected fluctuations in the S&P 500, fell 14.83% to 17.74.
The yield on the 10-year US Treasury note slipped 2.3 basis points to 4.927%, while the euro gained 0.57% against the dollar to $1.126.
Gold futures rose 2.77% to $4,049.70 an ounce.
Meanwhile, US benchmark West Texas Intermediate crude futures declined 3.19% to $93.02 a barrel.