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

miércoles 5 de noviembre de 2014 14:23 GYT
 

* Dow brushes intraday record; vote result soothes investors

* Energy shares among day's strongest

* Indexes up: Dow 0.56 pct, S&P 0.52 pct, Nasdaq 0.16 pct (Updates prices)

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 that a Republican majority could lead to new legislation that includes approval of oil and gas pipelines and reforms of crude and natural gas export laws.

Energy shares had slumped 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 finishing negative for the year, though it rose 1.5 percent as the strongest group of the day.

Equities rose on relief that election results were clear as Republicans sweeped several close contests to win control of the Senate. Investors had been concerned that several close races would be forced into run-offs, which could have meant weeks of delay in knowing the vote's outcome.

"It had looked like some of the races would be very close and that we might not know who controlled the Senate, but in the end the results were pretty decisive," said John Carey, portfolio manager at Pioneer Investment Management in Boston. "That's good news for the industries that had been subject to regulatory issues."   Continuación...