US STOCKS-Energy leads Wall St up after midterm vote, Dow hits record

miércoles 5 de noviembre de 2014 13:13 GYT

* Dow briefly advances to new intraday record

* Energy shares among day's strongest

* Time Warner rises after results, TripAdvisor plunges

* Indexes up: Dow 0.6 pct, S&P 0.5 pct, Nasdaq 0.2 pct (Updates to afternoon trading)

By Ryan Vlastelica

NEW YORK, Nov 5 (Reuters) - U.S. stocks rose on Wednesday, with the Dow advancing to a record 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.

Some weak earnings in the tech sector capped gains in the Nasdaq, but the beaten-down energy sector rallied on hopes a Republican majority could lead to new legislation that impacts the group. That includes approval of oil and gas pipelines and reforms of crude and natural gas export laws.

Energy shares had lagged 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 1.6 percent as the strongest group of the day.

Equities rose on relief that 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 which party would control Congress's upper chamber.   Continuación...