Stock futures soar after Democratic rout in midterms

Stock futures soared Wednesday morning, after Democrats’ resounding victory in the midterms. 

Dow Jones Industrial Average futures were up roughly 1,150 points before the opening bell, more than 2 percent higher than closing time Tuesday. S&P 500 and Nasdaq composite futures were up by more than 90 and 120 points, respectively. 

As of the late morning, Dow Jones, S&P 500 and Nasdaq futures were respectively up by 1,416 points, 117 points and 290 points. 

Democrats flipped the House, Senate and multiple governor’s mansions in Tuesday’s elections, breaking up the GOP’s grip on Congress and dealing a political blow to President Trump. 

“Wall Street loves divided government, because typically divided government doesn’t do anything, and it’s very much the case in this particular situation that it’s going to be very hard to do anything affirmative during the last two years of Trump’s administration,” Daniel Alpert, the executive chair at Westwood Capital, told The Hill.

Liz Ann Sonders, the chief investment strategist at the Schwab Center for Financial Research, argued Wednesday on Schwab Network the “decisive” nature of the election allowed investors to “look forward” to what’s in store for the economy.

Democrats across the map campaigned on affordability issues, blaming Trump and Republicans for high gas prices amid........

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