Dow set to surge more than 1,200 points as Trump is reelected

Markets were set to rise sharply Wednesday morning following a shift toward Republicans, including a decisive and consequential victory for former President Donald Trump in Tuesday’s US presidential election.

Dow futures soared 1,200 points, or 2.9%. Futures for the broader S&P 500 were 2.3% higher and the tech-heavy Nasdaq surged 1.8%.

In part, markets were probably juiced by the fact that the election was decided relatively quickly. The election has served as a cloud over the US economy and stock market in recent months. Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans.