Stocks Higher on Wall Street After Decisive Midterm Elections

U.S. stocks were rising in midday trading Wednesday, a day after decisive midterm elections.
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U.S. stocks were rising in midday trading Wednesday, a day after decisive midterm elections. The Republicans are taking control of the Senate, giving them control of Congress. Two separate reports on the service sector were disappointing. Markit's reading fell to 57.1 in October from 57.3. ISM Non-Manufacturing Composite dropped to 57.1 from 58.6 in September. Crude oil futures are rising after the Energy Information Administration reported supplies rose 500,000 a barrel, that's a bit more than expected. Energy stocks are currently one of the strongest performers. Chesapeake (CHK) and Devon (DVN) are both gaining in the session after reporting surging third quarter profits. The Nasdaq is being weighed down by laggards like TripAdvisor (TRIP) and Zulily (ZU).