Oil sinks, Amazon soars: How markets are reading the Democratic takeover

The Boston Globe · Larry Edelman · 2026-11-04 19:12 UTC

Wall Street is giving the Democratic takeover of Congress a thumbs-up, with some big exceptions.

This column is from a special early edition of Trendlines on the economic and market implications of the Democrats’ big win in the midterm elections. If you’d like to receive Trendlines via email on its regular Monday and Thursday schedule, sign up here.

Wall Street gave the Democratic takeover of Congress a big thumbs-up, with some notable exceptions, as giant tech stocks rose and oil prices tumbled.

The Standard & Poor’s 500 index climbed 1.6 percent, the benchmark’s biggest one-day gain since August. Stocks typically rise on the day after midterm elections, and the S&P 500 has averaged a 15 percent increase in the 12 months after the midterms since 1950, according to J.P. Morgan Asset Management.

Read the full story at The Boston Globe · All coverage of this story