The close ratified the morning rally: SPY finished at 766.82 (+1.65%) and QQQ at 691.95 (+0.97%) as investors read gridlock as a tailwind — and the post-midterm stretch is historically the market’s best.
Morning: Dow soared more than 1,300 points | Futures rose overnight on the blue sweep
ELECTIONS & CONGRESS
JOHNSON WON’T RUN FOR GOP LEADER AFTER THE WIPEOUT — The speaker told staff Wednesday morning he will not seek the minority-leader post; he stays in Congress after winning reelection in Louisiana.
JEFFRIES’ FIRST ORDER: ‘AMERICA IS TOO EXPENSIVE’ — The speaker-in-waiting plans an affordability-first opening: child tax credit, housing credit, Medicaid restoration and Obamacare subsidies.
WHITE HOUSE BLAMES CANDIDATES, NOT TRUMP — Officials call the mood “defiant” and argue Trump promoted his endorsees better than they promoted themselves.
THE COUNT STILL GROWS: 222 HOUSE SEATS CALLED, 75 TO GO — Democrats are past 218 with dozens of western races uncalled; Alaska and Mississippi Senate races also remain undecided.
BUSINESS & YOUR MONEY
PRIVATE PAYROLLS BEAT FORECAST: +86,000 IN OCTOBER — Services drove the gain — trade and transport +39,000, education and health +28,000 — while professional services shed 27,000.
DOLLAR SLIDES TO FOUR-WEEK LOWS ON THE RESULT — The greenback gave ground as traders turned to today’s ADP and ISM services reports ahead of Friday’s jobs report.
QUICK HITS
SCALISE AND JORDAN EYE THE OPEN GOP LEADER RACE
JOHNSON STEPS ASIDE; DEMOCRATS PROJECTED NEAR 250 SEATS
FEDERAL GOVERNMENT
TRUMP WENT SILENT IN THE RESIDENCE AS RESULTS ROLLED IN — Aides describe a sombre East Room watch party; the president later said the Democrats “did a good job” and insisted it wasn’t a hit on him.
NO PUBLIC EVENTS TODAY: CLOSED-DOOR MEETINGS ONLY — Wednesday’s White House schedule lists executive time and policy meetings, all closed to the press.
TRUMP, AT THE BALLROOM SITE: ‘I’LL GET ALONG’ WITH DEMOCRATS — After 25 minutes on Corinthian columns and a new helipad, the president agreed the Iran war drove gas prices up, said he’d do it again, and predicted comity with the 120th Congress “unless they want to be destructive.”
THE ELECTION STIFFENS THE FED’S GUARDRAILS — A Democratic Senate now controls confirmations, blunting Trump’s push for more allies at the central bank — while Warren, likely Banking chair, looms as a hostile questioner for Chair Warsh.
JOLTS JUMPED TO 7.5 MILLION — NOW ISM SERVICES IS THE TEST — September openings beat expectations; today’s services index, expected near 54.8, is the next read on prices and hiring.
BUSINESS & YOUR MONEY
BRENT SLIDES TO A FOUR-WEEK LOW DESPITE THE IRAN STRIKES — Brent closed Tuesday at $103.60, almost $10 below Friday, as talk of an Iran deal outweighed the Qeshm strike.
ISM SERVICES COOLS TO 54.5, PRICES STILL HOT AT 73.0 — New orders fell to 55.9 from 59.8, but employment rose to 51.4 — a steady, not roaring, jobs picture ahead of Friday’s payrolls report.
GOLD RECLAIMS $4,000 AS THE DOLLAR SINKS ON THE SWEEP — The greenback tumbled after the Democratic sweep, lifting gold nearly 3% while oil plunged on the same trade.
QUICK HITS
OPENAI WARNS: CHINA AI TALKS MUST FACE THE DISTILLATION THREAT
HOW THE ISRAEL AID CUTOFF COULD ACTUALLY WORK
ADP DETAILS: SERVICES +82,000, GOODS JUST +4,000
GEOPOLITICS
IRAN CLAIMS FOUR TANKERS DESTROYED BY MINES NEAR HORMUZ — The IRGC says the tankers are still ablaze and two more vessels were seized; the claim is so far unverified by independent monitors.
IRAN EXEMPTS INDIA, CHINA, IRAQ AND QATAR SHIPS FROM HORMUZ CURBS — A senior Iranian lawmaker says those four nations’ vessels pass freely — though Delhi says it has received no official word.
RUSSIA POUNDS UKRAINE’S GRID AGAIN BEFORE ABU DHABI TALKS — Tuesday’s barrage — 289 drones, 17 ballistic and 59 cruise missiles — knocked three of DTEK’s five thermal plants offline.
UKRAINE’S NUCLEAR PLANTS FORCED TO CUT OUTPUT — Kyiv’s emergency outages were cancelled Wednesday, but Kharkiv stayed on emergency cuts and some regions face up to 16 hours without power.
BUSINESS & YOUR MONEY
HORMUZ REOPENS ONLY IF U.S. LIFTS BLOCKADE, IRAN ENVOY SAYS — Tehran also demands guarantees against further attacks before the strait fully reopens.
STOCKS GLIDE HIGHER ON DIVIDED GOVERNMENT — The Dow rose 2% and the S&P 1.5% as investors priced in gridlock — and waited on today’s services data.
QUICK HITS
TANKER CLAIM UNVERIFIED: NO NAMES, FLAGS OR POSITIONS GIVEN
IRAN: EXEMPTIONS LINKED TO NEED FOR MEDICINE IMPORTS
SPORTS
JETS’ MIRACLE: FOUR GOALS IN 2:06, THEN OT WIN OVER MONTREAL — Down 4–0 with 2:39 left, Winnipeg scored four times and won 5–4 in overtime — the latest four-goal comeback in NHL history.
GAUTHIER’S SECOND STRAIGHT HAT TRICK POWERS DUCKS PAST CANUCKS — Cutter Gauthier has eight goals in three games, six on the power play, in Anaheim’s 5–4 win.
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.
FIRST CFP RANKINGS: MIAMI NO. 1, GEORGIA, UTAH, INDIANA ON TOP — The committee’s first top 25 puts unbeaten Miami first, with Alabama fifth, Notre Dame the last team in at No. 11 and Ohio State the first team out.
WEEK 9 CHAOS: USC STUNS NO. 2 OHIO STATE 30–18 — Seven ranked teams fell on Halloween, including Iowa’s 30–0 shutout of Wisconsin and Iowa State’s 51–49 walk-off over Oklahoma State.
TRAVEL
10 AFFORDABLE FALL GETAWAYS FOR LATE OCTOBER AND NOVEMBER — Blue Ridge, San Antonio, Albuquerque and St. Augustine lead a list priced by real traveler spending, not just airfare.
16 PLACES AT THEIR BEST IN OCTOBER AND NOVEMBER — Smokies foliage, warm Key West and San Diego, and Christmas lights switching on in early November.
NOVEMBER ON THE ROAD: OYSTERS, PECANS AND CRANES — Urbanna’s Oyster Festival (Nov. 6–7), Louisiana’s Pecan Festival and Bosque del Apache’s gathering cranes headline the month’s road trips.
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.
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.
FOOD
5,000 EGGS, ONE 12-FOOT SKILLET: ABBEVILLE’S GIANT OMELETTE — Louisiana’s 42nd Giant Omelette Celebration, Nov. 7–8, cooks a Cajun omelette with crawfish, peppers and plenty of butter.
CRANBERRY STUFFING: THE TART TWIST YOUR TABLE NEEDS — Buttery, herby, make-ahead friendly — dried cranberries are the seasonal ingredient your stuffing didn’t know it needed.
THE STARBUCKS TURKEY-STUFFING PANINI, BACK — AND AT HOME — The 2014–2020 favorite returns Nov. 5 with a new recipe; the copycat version presses turkey, cranberry cornbread stuffing and gravy on focaccia.
NEW ORLEANS’ ICONIC DISHES AND THE STORIES BEHIND THEM — Gumbo, jambalaya, crawfish étouffée, po-boys and beignets — a table shaped by French, Spanish, African, Caribbean and Indigenous cooks.
12 STUFFING RECIPES FOR PEOPLE WHO LIVE FOR THE STUFFING — Almond-cranberry-sweet potato, air-fryer whiskey-sausage-cranberry and the classics, all in one roundup.
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