FEDERAL RAG
U.S. POLITICAL AND BUSINESS NEWS — TUESDAY, NOVEMBER 3, 2026 · CLOSING EDITION
MARKETS — TUESDAY, NOV 3: SPY 754.35 ▲ 0.30% · INSIDE DAY  |  QQQ 685.28 ▲ 0.62% · INSIDE DAY
Trump Says U.S. Will End $4 Billion a Year in Israel Aid at Year’s End

On Election Day itself, the president says he and Netanyahu agreed months ago to stop the annual aid — though the $3.8 billion memorandum runs through 2028 and Congress still appropriates the money, so the how is unsettled.

Second source: TBS News / Reuters on the announcement and the 2028 memorandum  |  Third source: Le Monde on the announcement

KEY SENATE RACES — THE BALANCE OF POWER

35 seats up today; the Senate starts R 53 · D 45 · I 2 (53–47 by caucus). Democrats need a net gain of four for control.

NORTH CAROLINA — Roy Cooper (D) vs Michael Whatley (R) — Cooper +11.0 — LEANS D

OHIO — Sherrod Brown (D) vs Jon Husted (R) — Brown +2.8 — TOSS-UP

ALASKA — Mary Peltola (D) vs Dan Sullivan (R) — Peltola +1.0 — TOSS-UP

IOWA — Josh Turek (D) vs Ashley Hinson (R) — Tie — TOSS-UP

MICHIGAN — Abdul El-Sayed (D) vs Mike Rogers (R) — El-Sayed +5.3 — TOSS-UP

TEXAS — James Talarico (D) vs Ken Paxton (R) — Talarico +2.6 — TOSS-UP

KANSAS — Adam Hamilton (D) vs Roger Marshall (R) — Hamilton +4.1 — TOSS-UP

Final polling averages from the RealClearPolitics averages tracked on the linked page (last updated November 3, 2026). Archived in full on the Election 2026 results page.

ELECTIONS & CONGRESS

AMERICA VOTES: MORE THAN 59 MILLION ALREADY IN, FIRST POLLS CLOSE AT 6 P.M. — Early voting passed the 2022 total before Election Day; Democrats need a net gain of four in the Senate and three in the House, and the closest counts could run for days.

WHEN TO EXPECT A WINNER, STATE BY STATE — Some races could be called within hours of polls closing; Alaska and California counts could run days, and close ones longer still.

POLL CLOSINGS, HOUR BY HOUR: 6 P.M. TO 1 A.M. ET — Indiana and Kentucky close first; Hawaii at midnight, Alaska’s Aleutians last at 1 a.m. Wednesday.

CALIFORNIA VOTES ON THE FIRST BILLIONAIRE TAX IN A U.S. STATE — Proposition 40’s one-time 5% levy splits Democrats — Newsom opposes it, Sanders backs it — and late polling had it trailing, 52% to 46%.

TRUMP SPENDS ELECTION DAY BEHIND CLOSED DOORS, EAST ROOM WATCH PARTY AT 7 P.M. — No public appearances on his published schedule; private policy meetings, then an election-night reception as the first polls close at 6 p.m.

BUSINESS & YOUR MONEY

JOB OPENINGS JUMP TO 7.52 MILLION, BEATING EVERY FORECAST — Up 333,000 in September, with hiring up and layoffs down; Friday’s payrolls report is now the next big read, expected at about 65,000.

FACTORY ORDERS RISE 1.8% — AIRCRAFT LEAD, MACHINERY JUMPS 1.5% — Orders are up 7.2% on the year, though economists warn rate pressure could cool manufacturing segments outside the AI boom.

PFIZER BEATS, RAISES THE YEAR: $16.6 BILLION, ELIQUIS UP 25% — Non-COVID revenue grew 7% operationally; full-year guidance rises to $62–$64 billion in revenue and $2.95–$3.05 adjusted EPS.

ANTHROPIC’S $895.4 BILLION COMPUTE BILL, IN ITS AMENDED IPO FILING — The Economist’s top business highlight: $17 billion in third-quarter revenue — and commitments of about $70 billion due within a year.

QUICK HITS

POLL AVERAGES: DEMOCRATS 50, TOSS-UPS 5, REPUBLICANS 45 IN SENATE MODEL

LIVE POLLING AVERAGES FOR EVERY SENATE AND GOVERNOR RACE

LIVE RESULTS, ODDS AND POLL-CLOSING TIMES, IN ONE PLACE

SEVEN TOSS-UPS, A DECOY CANDIDATE, AND A 1 A.M. FINISH: ELECTION-NIGHT GUIDE

ONE FORECAST: DEMOCRATS FLIP FOUR, REPUBLICANS TAKE MICHIGAN, 50-50 SENATE

FEDERAL GOVERNMENT

COURT HEARS CATHOLIC PRESCHOOLS’ BID FOR A FUNDING EXEMPTION — The Denver archdiocese seeks to join Colorado’s universal preschool program while keeping admissions tied to Catholic belief; justices on both sides pressed the argument Tuesday.

IN 6 HOURS 24 MINUTES, THE COURT SHUT DOWN THE CALIFORNIA BALLOT BID — The one-sentence, no-dissent order capped a string of recent election-case losses for the administration, after earlier wins on maps and campaign finance.

JUDGE CHUTKAN BARS THE NONCITIZEN-VOTER LISTS FROM GOING TO MORE STATES — The order blocks DOJ and DHS from sending the lists or telling states to set aside ballots, citing unreliable data and the risk to lawful voters.

FED HELD AT 3.75%-4.00%, WITH TWO DISSENTS FOR A HIKE — Cook and Hammack wanted another quarter-point increase; December now hinges on jobs and inflation data, with Friday’s payrolls next.

ANTHROPIC EXPANDS ITS GOVERNMENT DEAL TO EVERY LEVEL, AT A 40% DISCOUNT — Federal, state, local, tribal and territorial agencies can get Claude Enterprise and Claude for Government with no minimum spend; about 500 U.S. government organizations already use Claude.

BUSINESS & YOUR MONEY

RENTERS IN SERIOUS TROUBLE: 22.7 MILLION COST-BURDENED, 12.1 MILLION SEVERE — Harvard’s 2026 rental report: asking rents eased late in 2025, but the median renter still spent 31% of income on rent and utilities in 2024, up from 27% in 2001.

HOUSING STAYS FROZEN INTO 2027: SALES 3.9 MILLION, PRICE GROWTH 0.8% — Goldman Sachs: mortgage rates above 7% overwhelm the shortage, with more than 95% of borrowers locked below today’s rates and single-family starts slipping to 0.87 million.

GOOGLE’S $500 BILLION WIPEOUT: ITS OWN AI SEARCH HITS AD SALES — Alphabet fell more than 12% after earnings as AI Mode answers monetized worse than classic search — even as revenue rose 25% to $127.6 billion.

QUICK HITS

AP: COURT GAVE NO REASON, AS IS CUSTOMARY IN EMERGENCY APPEALS

FRIDAY’S JOBS REPORT, NOT THE ELECTION, DECIDES DECEMBER’S HIKE CALL

Q3 GDP GREW 3.4% WHILE SEPTEMBER PAYROLLS ROSE JUST 29,000

FED HELD DESPITE CPI AT 3.7% — THE HAWKS’ CASE, IN ONE VOTE

GEOPOLITICS

U.S. STRIKES IRAN’S QESHM ISLAND ON THE EVE OF THE MIDTERMS — CALLED “DEFENSIVE,” NOT A NEW WAR — Officials say the limited strikes answered Iranian surface-to-air fire against U.S. assets in the Strait of Hormuz — and a senior Iranian official told Reuters a peace deal is still far off.

BESIEGED BY WAR, ARAMCO STILL GUSHES PROFIT: ADJUSTED $31.2 BILLION — The Iran war lifted Aramco’s selling price to $95.20 a barrel, up from $70.10 a year earlier, while refining earnings more than tripled to over $10 billion.

YEMEN SAYS 21 IRANIAN AND HEZBOLLAH EXPERTS RUN THE HOUTHI WAR MACHINE — Sanaa’s government calls the group a “fully functioning general staff” directing missiles, drones and Red Sea shipping attacks; the specific numbers are not independently confirmed.

CHINA’S AI STOCKS SLIDE AGAIN AS COMPUTE ACCESS LOOKS TIGHTER — Shanghai’s STAR 50 fell 3.8% Tuesday after a report that Nvidia wants cloud partners to earn at least 51% of revenue outside China — a warning for the whole AI trade.

U.S. TO MEDIATE UKRAINE-RUSSIA TECHNICAL TALKS IN ABU DHABI — The November 10-11 sessions will focus on de-escalation, humanitarian steps and post-war security.

BUSINESS & YOUR MONEY

OPEC+ HOLDS OUTPUT TARGETS AS HORMUZ THREATS LINGER — December targets stay unchanged, with prices above $100 and shipping risks keeping supply tight.

OIL REBOUNDS OVER $1 AS PEACE HOPES DIM — WTI $98.06, Brent $106.61 after Monday’s 7% slide on Doha-talk hopes; the war, now in its ninth month, is a leading driver of pump prices into Election Day.

QUICK HITS

13 PALESTINIANS KILLED IN GAZA OVER 48 HOURS, HEALTH MINISTRY SAYS

IRAN SAYS 3 TANKERS STRUCK MINES; U.S. MILITARY DISPUTES THE CLAIMS

LONGEST TRUCE OF THE UKRAINE WAR ENDS IN KHERSON

ASIAN CHIP STOCKS SLIDE AS AUSTRALIA HIKES TO 4.85%, AN 18-YEAR HIGH

SPORTS

SIMMONS DELIVERS IN HIS BEARS DEBUT: 34-17 OVER THE CHAMPS — A sack, 81 rushing yards allowed, 1-of-11 on third down for Seattle; Chicago is 6-2 and suddenly looks like a real contender.

FIRST PLAYOFF RANKINGS LAND TONIGHT: MIAMI THE NEAR-CERTAIN NO. 1 — After No. 1, the committee has room for interpretation all through the top 25 — and last year’s Miami-behind-Notre Dame controversy is the cautionary tale.

ONLY THREE UNBEATENS LEFT: MIAMI, UTAH, UCLA — Of 136 FBS teams that dreamed in August, three survive into November — and the first playoff rankings land Tuesday night.

WEEK 10 IS LOADED: UTAH-BYU, MIAMI-NOTRE DAME, GEORGIA-OLE MISS — No. 3 Utah hosts No. 7 BYU in the first Holy War between AP top-10 teams; No. 1 Miami travels to No. 4 Notre Dame.

MEYER’S WARNING TO NOTRE DAME: LOSE TO MIAMI AND YOU’RE OUT — The Irish have only two tough games, Meyer says, so Saturday night is their whole playoff case.

TRAVEL

10 BEST PLACES TO VISIT IN NOVEMBER — Venice’s plague-vow festival, Bangkok’s river of candles, Tahiti’s returning rains and Oregon wine country.

NOVEMBER, BUILT AROUND A DATE: DIWALI, VIENNA, KYOTO, THE 100TH PARADE — Diwali in Jaipur on November 8, Vienna’s markets from November 13, Kyoto’s night maples from the 21st, New York’s centennial parade on the 26th.

11 NOVEMBER ESCAPES, FROM CHIANG MAI’S LANTERNS TO MADEIRA’S TRAILS — Late November’s Yi Peng and Loy Krathong light up Chiang Mai; Cape Town and Buenos Aires are in spring.

VENICE, NOV. 21: CROSSING THE GRAND CANAL ON A BRIDGE OF BOATS — The Festa della Salute sends a candlelit stream across a temporary votive bridge to Santa Maria della Salute.

BANGKOK, NOV. 24: LOY KRATHONG, THE FESTIVAL OF LIGHTS — Thousands of candlelit baskets drift down the Chao Phraya to let go of the year’s misfortunes.

FOOD

FOOD NETWORK’S TOP 50 THANKSGIVING RECIPES FOR 2026 — The fan-favorite turkey, gravy, sweet potato souffle and Parker House rolls, all in one list.

A THANKSGIVING MENU THAT ISN’T ALL BEIGE MUSH — Crisp apple salad with maple vinaigrette, Brussels sprouts that taste like mac and cheese, and a no-bake pumpkin tiramisu.

THANKSGIVING, FROM HISTORY TO THE LEFTOVER RING — Lincoln made it national in 1863; the leftovers get a second life as a pull-apart ring and pumpkin curry turkey soup.

COZY NOVEMBER COOKING: SQUASH, CRANBERRIES, CHAI AND PEAR — Bourbon sweet potato casserole with a pecan crunch, cranberry orange cheesecake jars, and Italian wedding soup for cold nights.

LET SOMEONE ELSE COOK: CRACKER BARREL’S THANKSGIVING, TO GO — Heat-and-serve dinners for 4–6 ($119.99) or 8–10 ($189.99), pickup November 21–29, plus a new Country Fried Turkey Sandwich.

ARCHIVE — PAST EDITIONS BY DATE  |  FEDERAL RAG — Updated three times daily: 5:30 AM, 12:00 PM & 4:30 PM ET

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