RENEE MONTAGNE, host: In our business news, Wall Street reacts positively to changes in Washington.</s>RENEE MONTAGNE, host: The election results didn't rattle Wall Street. The Dow closed yesterday at an all-time high, although certain drug, energy and defense stocks were down amid uncertainty about positive action by Democrats. Democrats have pledged to consider measures such as raising the minimum wage, allowing Medicare to negotiate for discounts with drug-makers, and scrutinizing CEO pay and hedge funds.</s>RENEE MONTAGNE, host: Consumer and investor advocates hailed the new focus on wages, prescription drugs, and alternative energy sources. Responding to the election, President Bush said he was willing to work with Democrats on several issues, including and increase in the minimum wage.</s>RENEE MONTAGNE, host: With Democrats controlling the House and possibly the Senate, business interests are now on the defensive. The U.S. Chamber of Commerce, the largest business lobbying group, vowed to continue trying to reduce lawsuits against business and to extend the Bush administration tax cuts.</s>RENEE MONTAGNE, host: Business advocates are also afraid that the Republicans will stop their efforts to role back the strict rules on corporate governance contained in the Sarbanes-Oxley Act.
The election results didn't rattle Wall Street. The Dow closed Wednesday at an all-time high. Although certain drug, energy and defense stocks were down amid uncertainty about possible action by Democrats.