Democrats recaptured the House and Senate, flipping GOP-held Senate seats in Maine, Ohio, Kansas, Iowa, Texas, North Carolina and South Carolina — with a handful of races still uncalled and the size of the majorities still growing.
Jeffries in line to become first Black speaker | Futures turn higher after the sweep
ELECTIONS & CONGRESS
JEFFRIES IN LINE TO BECOME FIRST BLACK SPEAKER — He calls it “the great American comeback” and pledges an affordability-first agenda, with Medicaid cuts and the debt limit among the early fights.
TEXAS SWEEP: HINOJOSA OUSTS ABBOTT, TALARICO TAKES SENATE SEAT — Hinojosa becomes Texas’s first Hispanic governor and its first Democratic governor since 1990, ending a three-decade statewide drought.
TRUMP CONGRATULATES DEMOCRATS, THEN SAYS HE WASN’T ON THE BALLOT — “If I was, we would have won,” he says, while also insisting he can work with the new Congress — and wield the veto.
CONSERVATIVES STUNNED BY ‘CATASTROPHIC’ NIGHT, BLAME IRAN WAR AND GAS PRICES — “It is a catastrophic night for Republicans,” one columnist says, as the right argues over candidates, prices and the war.
DEMOCRATS SEIZE HOUSE CONTROL, VOW RETRIBUTION AGAINST TRUMP ADMIN — With the gavel changing hands, the new majority is already talking oversight — and the White House is talking vetoes.
BUSINESS & YOUR MONEY
FUTURES TUMBLED OVERNIGHT, THEN TURNED HIGHER — S&P futures fell 1.3% and Nasdaq futures 2.2% in the first reaction, before the market read gridlock as a check on both parties.
AMD JUMPS 7% ON AI DATA-CENTER STRENGTH — Data-center revenue nearly doubled to $8.55 billion, and AMD now forecasts revenue growth above 80% in 2027.
RENTERS STILL IN SERIOUS TROUBLE, HARVARD FINDS — 22.7 million renter households were cost-burdened in 2024, even as new-lease rent growth cooled — the Economist’s renter warning, in U.S. numbers.
QUICK HITS
SCHOEN: DEMOCRATS THE BIG WINNER, TRUMP THE BIG LOSER
TRUMP VOWED TO BECOME ‘MR VETO’ IF DEMOCRATS WON CONGRESS
FEDERAL GOVERNMENT
SUPREME COURT REJECTS DOJ BID TO SET ASIDE CALIFORNIA BALLOTS — The justices, with no noted dissents, refused the eve-of-election bid to segregate some 20,000 mail ballots.
TRUMP SAYS U.S. WILL CUT OFF ISRAEL AID AT YEAR’S END — He says Netanyahu agreed months ago to end about $4 billion a year because Israel “doesn’t need it” — though the current aid deal runs to 2028.
U.S. TO MEDIATE UKRAINE-RUSSIA TALKS IN ABU DHABI NOV. 10–11 — Witkoff says the working-level talks will cover security, de-escalation and humanitarian steps.
FRIDAY’S JOBS REPORT IS THE TEST FOR A DECEMBER RATE HIKE — The Fed held at 3.75%–4% on Oct. 28 by 10–2; forecasters expect 65,000 October jobs, with unemployment steady at 4.2%.
BUSINESS & YOUR MONEY
FUTURES TURN HIGHER, TREASURYS STRENGTHEN AFTER SWEEP — The early selloff faded as investors priced divided government; Tesla and SpaceX fell about 5% premarket.
AMD AND ARISTA TELL A DIFFERENT STORY THAN THE FUTURES — Both jumped after Tuesday-evening earnings — AMD about 7%, Arista about 9.5% — even as the broader market wobbled on the vote.
CHINA WARNS THE GLOBAL AI MONEY RUSH IS MOVING TOO FAST — A top Chinese regulator warns AI inflows are crowding out traditional industries as Asia’s AI-heavy stocks slide.
QUICK HITS
WARSH: JOBS ‘QUITE POSITIVE,’ INFLATION STILL THE PRIORITY
FED HOLDS, GIVES NO EXPLICIT DECEMBER SIGNAL
HOW BUSINESS IS BRACING FOR A DEMOCRATIC CONGRESS
NAVARRO SEEKS SUPREME COURT REVIEW AS ALLIES BRACE FOR SUBPOENAS
GEOPOLITICS
U.S. CARRIES OUT ‘DEFENSIVE’ STRIKES ON IRAN’S QESHM ISLAND — Officials say the limited strikes targeted surface-to-air missiles used against U.S. assets, not a resumption of major combat.
QATAR PUSHES IRAN DEAL AS HORMUZ STAYS SHUT — Tehran ties reopening the Strait to sanctions relief, an end to the naval blockade and release of frozen funds.
STRIKES CAME AS TRUMP TOUTED NEGOTIATIONS — The Qeshm operation landed hours after Trump said he was in “no rush” to ramp up strikes on Iran.
BESIEGED BY WAR, ARAMCO STILL GUSHES PROFITS — The Economist’s Aramco highlight, in numbers: net profit up 35% despite Houthi attacks and a blocked Strait.
CHINA’S AI SLUMP IS A WARNING, NOT JUST A LOCAL STORY — The STAR 50 fell nearly 4% Tuesday to its lowest since April 2025, even as Beijing’s “national team” bought in.
BUSINESS & YOUR MONEY
BLUE WAVE KNOCKS OUT SPACEX, TESLA IN PREMARKET — Both fell about 5% after Musk poured hundreds of millions into backing Republicans; chip stocks rallied on AMD instead.
GOLD BACK ABOVE $4,000, DOLLAR WEAKENS AFTER VOTE — Ten-year yields eased to about 4.93% and Brent hovered near $104 as markets digested divided government.
QUICK HITS
HOW THE ISRAEL AID CUTOFF COULD ACTUALLY WORK
ARAMCO Q3 PROFIT JUMPS 34.5% AS WAR LIFTS OIL PRICES
SPORTS
BEARS ROUT SEAHAWKS 34–17 ON MONDAY NIGHT — Jeffery Simmons starred in his Chicago debut and D’Andre Swift ran for three second-half touchdowns.
USC STUNS NO. 2 OHIO STATE 30–18 — A 69-yard touchdown on the second snap set the tone, and fans stormed the field at the Coliseum.
MIAMI NO. 1 IN FIRST PLAYOFF RANKINGS — Georgia, Utah and Indiana round out the top four; Ohio State, the team USC just beat, sits first out at No. 12.
BUFFALO ERASES 15-POINT DEFICIT, WINS 34–31 IN OT — Jason Wright threw for 358 yards and four total touchdowns in a wild Tuesday-night comeback at Miami.
VIKINGS’ FIRST LOSS SENDS THEM TUMBLING DOWN POWER RANKINGS — Minnesota’s perfect start ended 19–15 at Detroit, on a season-low 24:17 of possession.
TRAVEL
5 U.S. SPOTS MAKE NAT GEO’S BEST OF THE WORLD FOR 2027 — Madison, Laguna Beach, the southern Ozarks, Baltimore and Catalina Island make the 25-place list.
WHEELING LIGHTS UP: SIX MILES, A MILLION BULBS, FROM NOV. 5 — Oglebay’s Festival of Lights opens Thursday, with a Festival of Trees that funds free and low-cost health care.
HARVEST FESTIVALS WORTH A TRIP, FROM BALI TO GHANA — Rice-temple gratitude rites, yam dances and lantern rivers — the year’s loudest, happiest food celebrations.
NOVEMBER’S QUIRKIEST FESTIVAL: A FEAST FOR 4,000 MONKEYS — Lopburi, Thailand, throws its resident monkeys a buffet to thank them for bringing the tourists.
A MILE OF LANTERNS RETURNS TO ZOO ATLANTA NOV. 21 — Glowing eagles, an undersea kingdom and marshmallow fire pits, on select nights through Jan. 17.
FOOD
INA GARTEN’S 15-MINUTE THANKSGIVING APPETIZER — Warm marinated olives with orange zest, garlic, fennel and thyme, inspired by a Milan rotisserie shop.
THE SOUTHERN SQUASH CASSEROLE THAT ANCHORS THANKSGIVING — Tender squash, onion and pepper under cheddar and breadcrumbs — make-ahead friendly, no canned soup.
THE ICONIC GREEN BEAN CASSEROLE, 60 YEARS ON — Five ingredients, ten minutes of prep, and still the dish families say Thanksgiving isn’t Thanksgiving without.
MASHED POTATO STUFFING: THE NON-RECIPE RECIPE — Stuffing meets mashed potatoes in an Amish-rooted family staple that scales from two people to twenty.
PARKER HOUSE ROLLS WITH BUILT-IN BUTTER POCKETS — Lodge’s November cast-iron roll traps honey butter in every fold — and the dough can be made a day ahead.
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