The Dow Jones industrial average rose 100.69 points, or 0.58 percent, to 17,484.53, the S&P 500 gained 11.47 points, or 0.57 percent, to 2,023.57 and the Nasdaq Composite dipped 2.92 points, or 0.06 percent, to 4,620.72.

US stock  rose on Wednesday, with both the S&P 500 and Dow advancing to records, after Republicans took control Of the Senate, allaying fears of drawn-out runoffs and raising investor hopes for more business- and energy-friendly policies.

The beaten-down energy sector rallied on hopes that a Republican majority could pass legislation that includes Approval of oil and gas pipelines and reforms of crude and natural gas export laws. The S&P energy index was up 1.8 percent.

“For now, the market generally likes the results. If we had uncertainty around the result, that would have been a cause for concern,” said John Canally, chief economic strategist at LPL Financial. “A little bit less business unfriendliness coming out of Washington is a clear plus,” he added, noting that 88 percent of the time, stocks rise in the fourth quarter of midterm election years, regardless of the outcome.

“A little bit less business unfriendliness coming out of Washington is a clear plus,” he added, noting that 88 percent of the time, stocks rise in the fourth quarter of midterm election years, regardless of the outcome.

US private employers added 230,000 jobs in October, the most since June, according to the ADP National Employment report. The data could raise hopes for Friday’s closely-watched payroll report. On the downside, the pace of growth in the US services sector slowed more than expected in October.

Coustery  :  http://www.moneycontrol.com/news/international-markets/dow-sp-500-close-at-records-after-midterm-vote_1220849.html

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