U.S. stocks tick up after Trump victory

U.S. stocks reversed early losses to trade higher around midday Wednesday, as Wall Street was assessing the economic impacts after U.S. Republican Donald Trump won the country's presidential election.

By noon, the Dow Jones Industrial Average rose 193.82 points, or 1.06 percent, to 18,526.56. The S&P 500 added 20.30 points, or 0.95 percent, to 2,159.86. The Nasdaq Composite Index increased 42.84 points, or 0.82 percent, to 5,236.33.

Trump defeated his Democratic rival Hillary Clinton in Tuesday's presidential election, pulling a major upset after a controversial and scandalous campaign cycle.

According to projections by major TV networks, Trump has surpassed the threshold of 270 out of the total 538 electoral votes needed to win the presidency.

Clinton, a former first lady and secretary of state, has made a public concession speech, say "we must accept this result and look to the future," according to media.

Trump addressed the nation at the Hilton hotel ballroom in midtown Manhattan, saying that "I'll be a president for all Americans."

Analysts thought that the increased prospect of tax cuts and a generally pro-growth set of policies from Trump, aided and abetted by the Republican clean sweep of congress, boosted investor sentiment.

On Tuesday, U.S. stocks reversed early losses to end higher following the previous day's solid gains, as investors eagerly awaited the outcome of the country's presidential race. Enditem