U.S. Stocks Open Higher After Election Results

The U.S. stock market opened with solid gains Wednesday, sending both the S&P 500 and Dow Jones Industrial Average into record territory. The Dow industrials hit a fresh intraday high, in tandem with the utilities and transports averages. Investors welcomed the results of midterm elections in which Republicans, generally viewed as business-friendly, gained control of the Senate. A better-than-expected private-sector jobs report also aided markets in the early going Wednesday. The S&P 500 opened 10 points, or 0.5%, higher at 2,022. The Dow Jones Industrial Average jumped 94 points, or 0.5%, to 17,475. The Nasdaq Composite began the day up 21 points, or 0.4%, at 4,644.