Stock markets rally after U.S. midterm election results

Stock market futures in Canada and the U.S. surged Wednesday after the U.S. midterm election gave Democrats majorities in both houses of Congress, signaling a shift toward divided government. Investors assessed impacts on sectors like artificial intelligence, defence, wind energy, and Big Oil, with markets generally favoring split control as reducing risk of sweeping policy changes. Dow Jones futures rose 1.4 per cent, S&P 500 gained one per cent, and TSX futures pointed to a one per cent gain. Analysts noted Democrats lack a filibuster-proof Senate majority and President Trump retains veto power, limiting near-term policy shifts. Asian markets dipped on AI concerns, while European indexes rose. Brent crude fell to US$102.35 per barrel.