Not really news that the Dow has gone up 250 points today… it regularly goes through swings of 500 points or more. But there was an election last night where the Dems took the House, ending Republican control of government. This indicates that the market is happy about that. And… they probably should be. When one party controls the reigns of power, they invariable go on a spending spree. In contrast, when there’s “gridlock,” the parties can successfully fight off the other sides spending priorities. In other words, “nothing gets done.” Which, when it comes to the federal government, is generally a good thing.
The Republicans still control the White House and the Senate, and thus control Supreme Court nominations, and that’s a good thing. A split government means that NASA plans to send manned missions to the Moon and Mars could well be in danger. But they are fifty years behind schedule on that and SpaceX is doing it anyway, so… no real loss, I guess.