STOCKS | U.S. Stocks Rise as Democrats Win Control of Both Chambers of Congress

Stocks reversed early losses and rose on Wednesday after Democrats won control of both chambers of Congress in a sweeping midterm victory. According to Sina Finance, S&P 500 futures rose 1%, while European shares advanced and the U.S. dollar index and Treasury yields fell; the 10-year Treasury yield declined to 4.92%. Investors had worried that increased Democratic scrutiny could slow data-center investment and weigh on technology shares; TSMC fell 1.5% and SoftBank Group dropped 3.2%. Franklin Templeton Institute data showed that, since 1954, the S&P 500 gained an average of 14.9% in the 12 months after midterm elections during Republican presidencies, with similar market performance regardless of which party controlled Congress. Some analysts cautioned that elevated U.S. borrowing costs could undermine that historical pattern.