US stocks rally after mid-term vote



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Last Updated at 17 Nov 2017, 20:59 GMT *Chart shows local time Dow Jones intraday chart
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(Close): Stocks on Wall Street closed higher with investors relieved that the mid-term elections produced a clear result.

The Dow Jones and S&P 500 hit fresh records.

Sentiment was also boosted by an upbeat jobs survey, raising hopes that the official payroll figures on Friday will be strong.

The Dow Jones closed after adding 100.69 points at 17,484.53.

The broad-based S&P 500 rose 11.47 points to 2,023.57 while the Nasdaq lost early gains and fell 2.91 points to 4,620.72.

Energy shares rose on hopes that the Republican majority in the Senate could lead to new energy-friendly legislation.

The mid-term vote also boosted the dollar, which jumped to a seven-year high against the yen of 114.65 yen.

Meanwhile, investors were impressed by a report from payroll processor ADP which said that private firms in the US added 230,000 jobs in October. This was ahead of forecasts and the largest increase since June.

Among individual firms, shares in TripAdvisor dived 14% after the travel review website's third quarter results fell short of expectations.

Net income for the quarter fell to $54m from $56m a year earlier, following a big increase in marketing costs.

Time Warner shares rose 4% after its third quarter profit and revenue beat expectations. It posted net income of $967m with revenue up 3.3% to $6.24bn.