WASHINGTON, Nov. 9, 1988 (UPI) -- Democrats, the majority party in the House for more than three decades, will continue their rule following Tuesday's election in which nearly all incumbents of both parties were successful in seeking re-election.

MOSCOW, Nov. 9, 1988 (UPI) - Soviet leader Mikhail Gorbachev Wednesday congratulated George Bush on his election to the White House and said he hoped the president-elect will seek more ''stable and predictable'' U.S.-Soviet relations.

World leaders welcomed George Bush's victory as a sign that President Reagan's foreign and economic policies will continue uninterrupted, and the U.S. election results triggered rallies today in overseas stock markets.

BOSTON, Nov. 9, 1988 (UPI) -- Gov. Michael Dukakis, his marathon bid for the presidency over, conceded defeat gracefully and promptly encouraged loyal supporters to venture into politics, calling it ''a noble profession.''

WASHINGTON, Nov. 9, 1988 (UPI) -- Republicans expressed deep relief Wednesday over close gubernatorial triumphs in Rhode Island, Utah and Montana that allowed them to escape the elections with a net governorship loss of one.

WASHINGTON, Nov. 9, 1988 (UPI) - Sobered by ''the enormity'' of the challenge ahead, President-elect George Bush moved swiftly Wednesday to assemble a new administration and enable a stable transition from the Reagan era.

WASHINGTON, Nov. 9, 1988 (UPI) - In 1946, the GOP broke the Democrats' 14-year grip on Congress by asking, ''Had enough? Vote Republican.'' In 1988, George Bush won the presidency on the flip side of that slogan: ''Don't worry; be happy.''

WASHINGTON, Nov. 9, 1988 (UPI) - The 1988 election at a glance:Winners

WASHINGTON, Nov. 9, 1988 (UPI) -- In the drab dawn of defeat, the Democrats once again must search for their future. They failed to find tomorrow with Michael Dukakis in 1988.

WASHINGTON, Nov. 9, 1988 (UPI) - President-elect George Bush announced Wednesday that his fishing buddy and campaign chief James Baker, who ran the White House staff in President Reagan's first term, is his choice to become secretary of state.

WASHINGTON, Nov. 9, 1988 (UPI) -- Evan Bayh, at 32, will become Indiana's first Democratic governor in 20 years, scoring an election victory touted as an ''embarrassment'' for the Republican presidential ticket in Dan Quayle's home state.

WASHINGTON, Nov. 9, 1988 (UPI) - With the smile that comes only from victory, Ronald Reagan told President-elect George Bush Wednesday that the American people had ''unmistakably delivered'' him a mandate to continue the Reagan revolution.

WASHINGTON, Nov. 9, 1988 (UPI) -- Republican George Bush was elected the 41st president of the United States Tuesday, climaxing a bitter and grueling campaign with a crushing victory over Democrat Michael Dukakis that gave the GOP control of the White House for a third straight term.