News
Washington's Power Shift Creates New Winners and Losers on Wall Street
Democrats now control Congress, prompting investors to reassess sectors such as defense spending and AI infrastructure. AI‑related stocks face heightened risk as the election slows growth plans, while Qualcomm and Arm posted earnings beats but saw shares fall after hours. Market recap notes U.S. indexes rose after midterm victories, with consumer discretionary leaders Home Depot and Walmart, while oil prices dropped over 8% on expectations of an Iran deal. Upcoming focus includes jobless claims, productivity data, Fed Governor Beth Hammack’s speech, and earnings from Airbnb and Cloudflare. Additional highlights feature Cathie Wood’s surprising trades, Nancy Pelosi’s pending portfolio disclosures, Marvell’s $75 billion loss after its Lumentum acquisition, and Bitcoin’s rally despite Peter Schiff’s skepticism.