Mumbai, Nov. 5 -- The US stocks stocks surged Wednesday following the resolution of US midterm elections while oil prices stumbled on expectations the Democratic sweep could hasten a resolution to the US-Iran war. Democrats seized control of both houses of Congress and triggered a hefty slide in crude oil prices. WTI Crude Oil futures to a near one-month low after a near nine percent fall in last session. Supportive labour market data also boosted the US stocks. All three major indices ended solidly higher, with the Dow surging 3%, or more than 1,500 points at 53,356.12. The S&P 500 index zoomed 1.6% while the Nasdaq Composite gained 1.4%.

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