Election results are out, and Wall Street is loving it.

The Dow closed up 1,569.40 points, or 3.03%, at 53,356.12 on Wednesday, a day after Democrats won majorities in the House and the Senate.

It was the Dow’s best day since April 2025 and its biggest post-midterm gain since 1982, according to CFRA Research.

Why cheer? Investors warmed to the prospect of curbs on excess spending and create a more predictable outlook for markets.

AI was the exception: Nvidia fell 3% and CoreWeave about 10%. History backs the optimism: since 1938, the S&P 500 has posted price gains in the 12 months after midterms 95% of the time.