Major US indexes and media shares rose in morning trading on November 4 following the midterm elections, according to Variety. Its snapshot put the Dow Jones Industrial Average up more than 1,100 points, or about 2.2%, near 53,000, with the Nasdaq Composite gaining roughly 2.4%.
Broad gains, with exceptions
Netflix and Comcast each advanced around 4%. Disney gained 3.8%, Skydance 2.8% and Fox Corp. 2.4%. Technology shares also moved higher: Apple rose 6%, Amazon 7.6%, Alphabet 4.9% and Meta 2.4% in the reported morning session.
Other stocks declined. Variety recorded Tesla down approximately 2.4% and SpaceX down 1.3%. Trump Media & Technology Group fell more than 10%, taking its market capitalisation below $1.5 billion at that point.
Analysts assess the political backdrop
Variety cited AP election counts showing Democrats with 54 Senate seats against Republicans’ 44, with two races unresolved. In the House, Democrats had secured 228 seats, Republicans 139, and 68 contests remained undecided.
Freedom Capital Markets strategist Jay Woods linked the market mood to expectations of policy gridlock in Washington, speaking to CNBC as cited by Variety. He also pointed to President Donald Trump’s initial reaction to the election outcome.
AI infrastructure featured in the policy discussion. In a November 4 note quoted by Variety, UBS economist Jonathan Pingle expected data-centre projects to proceed even as some efforts to restrict development could have an effect. He considered a major federal agreement to constrain construction and regulate AI difficult to reach. Those assessments describe analysts’ expectations alongside the morning market figures.