US Stock Market today: S&P 500, Nasdaq, Dow Jones jump after midterm elections results, Wall Street investors send direct messages to Donald Trump, Elon Musk, check top stock prices

US Stock market on Wednesday welcomed the midterm elections results that sent a touch message to President Donald Trump and his Republican Party against Democratic Party. Both Trump and Elon Musk's companies' stock prices fell badly at the Wall Street. On Wednesday, S&P 500 rose 119.70 points, or 1.6 per cent, to 7,688.62, Dow Jones Industrial Average rose 1,569.40 points, or 3 per cent, to 53,356.12, Nasdaq composite rose 364.50 points, or 1.4 per cent, to 25,736.51, and Russell 2000 rose 44.50 points, or 1.6 per cent, to 2,856.95. Stocks generally do well in the months following any midterm U.S. election, regardless of who wins.

Trump’s social-media company, Trump Media & Technology Group, was one of the market’s bigger losers, down 24.5 per cent. Elon Musk’s businesses also struggled. Tesla fell 3.3 per cent, and SpaceX sank 3.8 per cent. Musk, a former top Trump adviser, is among the possible targets for investigations by a Democratic-controlled Congress. Musk spent nearly half a billion dollars backing Republican candidates, including efforts to keep Republicans in control in Texas, the home state of both companies.

Top Gaining, Losing Stocks at Wall Street


Nvidia sank 3.2 per cent and was the heaviest weight on the S&P 500. CoreWeave, a company that rents out access to AI chips to customers over the cloud, dropped 9.9 per cent.

Among AI heavyweights, Microsoft rose 6.7 per cent, Amazon.com added 6.1 per cent, Alphabet gained 3.2 per cent and Meta Platforms rose 1.4 per cent. Shares of data center operators slumped, with Hut 8 down 23 per cent, IREN off 11 per cent, Core Scientific falling 10 per cent and Applied Digital lower by 6.7 per cent.

The Philadelphia SE Semiconductor index hit a six-month low, dropping 3.1 per cent. AMD rose 1 per cent after forecasting faster-than-expected 2027 growth as its data center sales surged.

Lockheed Martin stock price dropped 6.9 per cent, Northrop Grumman fell 4.5 per cent and General Dynamics slipped 2.6 per cent. Defense stocks Northrop Grumman, RTX and Lockheed Martin fell as Trump's $1.5 trillion defense budget request could now face a tougher road in Congress.

ExxonMobil fell 4.6 per cent, and ConocoPhillips dropped 5.2 per cent.

Solar and clean energy stocks rose, as investors bet a Democratic sweep would help keep federal support for clean energy development in place. The Invesco Solar ETF climbed nearly 6 per cent. First Solar rose 4.6 per cent, and Enphase Energy climbed 3.7 per cent.

HCA Healthcare, which runs hospitals and ambulatory sites, jumped 10.3 per cent. Dollar Tree, which focuses in particular on lower-income Americans, rose 9.6 per cent.