03:53 PM EST, 11/06/2024 (MT Newswires) -- US benchmark equity indexes were on track to close at all-time highs Wednesday after Donald Trump won the presidential election.

The Dow Jones Industrial Average was up 3.6% at 43,737.4, while the Nasdaq Composite jumped 3% to 18,985.3. The S&P 500 rose 2.6% to 5,931.8. Among sectors, financials saw the biggest gain, up 6%, while real estate saw the steepest decline.

Trump, the Republican nominee, defeated Kamala Harris, the vice president and the Democratic candidate, in Tuesday's vote.

Analysts said Trump's return to the White House will have investors watching the impact of potential new tariffs, the labor market effects of immigration cuts, and benefits to top technology firms.

"US large-cap equities could benefit from a combination of deregulation and potentially additional tax cuts," Wells Fargo Investment Institute said. "Smaller, domestic-oriented companies should find an advantage from tariffs on imports."

The US 10-year yield advanced 14.8 basis points to 4.44%, while the two-year rate gained 7.3 basis points to 4.28%.

The Federal Reserve's two-day monetary policy meeting got underway Wednesday. Markets widely expect the central bank's Federal Open Market Committee to reduce interest rates by 25 basis points Thursday, according to the CME FedWatch tool.

Qualcomm ( QCOM ) , Arm Holdings ( ARM ) , and McKesson (MCK) are among the companies scheduled to report their latest quarterly financial results after Wednesday's closing bell.

West Texas Intermediate crude oil was little changed at $71.95 a barrel.