Dow Hits Intraday Record at the Opening Bell on GOP Win & ADP

Stocks started strong with the Dow Jones Industrial hitting an intraday record at Wednesday's opening bell. Wall Street is welcoming the Republican victory in the midterm elections. Before the bell, traders were greeted by data that showed U.S. businesses created 230,000 jobs in October, slightly better than 220,000 expected. Rising interest rates deterred mortgage applications last week. The Mortgage Bankers Associations' index, which includes both refinancing and home purchase demand fell 2.6%. Slipping oil prices will continue to weigh on Wall Street. Crude futures are extending losses into a fifth straight session. TripAdvisor (TRIP) is sharply lower after reporting it missed its quarter before the bell. Shares of Time Warner (TWX) though are starting the day on a positive note. The company posted results that beat expectations on both the top and bottom lines.