Out of the election results, there was no blue wave or red dawn but rather a kind of purple haze hanging over Washington, with the usual noise an rancor interrupted only temporarily on Tuesday night into Wednesday morning. By 11:30, President Trump was at the podium, singing his own praises and sending congratulatory messages to the politicians he helped get elected to federal positions.
It didn't take long for the news media to begin hectoring the president over immigration, dealings with Democrats, the Mueller probe, and various other needling, needless issues. Trump was at his usual boisterous best, telling some reporters to sit down and lambasting others.
Shortly after Trump left the press gaggle, news that Jeff Sessions would step down as US Attorney General broke across the wires, and stocks continued their march higher. Sessions' letter of resignation began with the words, "At your request..." signaling that Trump had planned for the removal of Sessions in advance of the midterms and timed his resignation for immediately following results of the elections.
Trump quickly named Matthew Whitaker, Sessions' chief of staff, as acting Attorney General. Whitaker has been openly critical of the Mueller probe into Russian meddling in the 2016 presidential election, echoing Trump's oft-repeated message that the entire investigation amounts to nothing more than a "witch hunt."
With the path ahead for President Trump more clearly defined, Wall Street can look forward to something resembling sanity in Washington. With Whitaker now in charge of the DoJ, the Mueller probe will likely be reigned in and shortly concluded, ending one of the lengthiest politically-inspired goose chases in American history.
The midterms past, Trump will aggressively advance his agenda, though the rancor from the opposite side of the aisle is likely to become even more manic, illogical, and contrived. Trump has made no friends in the media, and, with the Democrats in control of the House, the politicking leading up to the 2020 presidential election will become more pronounced than ever.
In the meantime, President Trump and his team will plow ahead with initiatives on trade, jobs, infrastructure, and regulatory reform, and there's little the Democrats can do about any of the administrative functions guided by the chief executive. With control of the Senate, Trump also can find smooth sailing for appointees, the Republican majority assuring confirmation of just about anybody he sends up for approval.
Dow Jones Industrial Average November Scorecard:
| Date | Close | Gain/Loss | Cum. G/L |
| 11/1/18 | 25,380.74 | +264.98 | +264.98 |
| 11/2/18 | 25,270.83 | -109.91 | +155.07 |
| 11/5/18 | 25,461.70 | +190.87 | +345.94 |
| 11/6/18 | 25,635.01 | +173.31 | +519.25 |
| 11/7/18 | 26,180.30 | +545.29 | +1064.54 |
At the Close, Wednesday, November 7, 2018:
Dow Jones Industrial Average: 26,180.30, +545.29 (+2.13%)
NASDAQ: 7,570.75, +194.79 (+2.64%)
S&P 500: 2,813.89, +58.44 (+2.12%)
NYSE Composite: 12,678.17, +198.10 (+1.59%)
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