Dow Jones jumps more than 1,000 points after elections

NEW YORK CITY (NBC, KYMA) – The Dow Jones jumped more than 1,000 points shortly after trading began at the New York Stock Exchange the morning after the midterm elections.

As the first returns began coming in Tuesday night, futures actually plunged by as much as 2.5% by around 10 p.m. Eastern time.

But as the trading day began, Wall Street apparently welcomed the clarity of the results, pushing the Dow up sharply, touching 1,200 point gains at times Wednesday morning.

Deutsche Bank’s George Saravelos wrote that, “The market is increasingly likely to interpret surprising policy shifts from the executive as time-bound by the next presidential election, or the new domestic political configuration.”

Economists at Goldman Sachs agreed writing that Democrats could now move to limit some of President Donald Trump’s most economically-disruptive actions.

In an interview with the Wall Street Journal, President Trump said he and Republicans would work with Democrats, but also told Fox News that he would have no problem vetoing bills that hit his desk.

Along with the Dow, the S&P 500 and the NASDAQ also saw early gains Wednesday.