US STOCKS-Wall St up after midterm vote, ADP data; Dow hits record

miércoles 5 de noviembre de 2014 11:04 GYT
 

* Energy shares among day's strongest

* Time Warner rises after results, TripAdvisor plunges

* Indexes up: Dow 0.3 pct, S&P 0.4 pct, Nasdaq 0.1 pct

By Ryan Vlastelica

NEW YORK, Nov 5 (Reuters) - U.S. stocks rose on Wednesday, with the Dow advancing to a record high after the Republican Party took control of the Senate in the midterm elections, as expected, and following a stronger-than-anticipated report on the labor market.

The beaten-down energy sector was among the strongest of the day as a Republican majority could lead to new legislative measures that impact the group. These include approval of oil and gas pipelines and reforms for crude and natural gas export laws.

Energy shares had lagged the broader market recently, suffering massive losses as crude oil prices plunged to a three-year low. The S&P energy index was the only one of ten primary S&P 500 sectors to be negative for the year, though it rose 0.7 percent Wednesday as one of the strongest groups of the day.

Equities rose on relief that the election results were clear, with the upcoming Senate majority party not in doubt.

Investors had been concerned that some close races would be forced into run-offs, an outcome that could have led to weeks of delay in knowing who would control Congress's upper chamber.   Continuación...