Dow Futures Jump Over 1,100 Points After Blue Midterm Sweep

Stock futures are soaring this morning after Tuesday's midterm elections, which saw Democrats take back control of Congress and U.S. President Donald Trump signal a willingness to work across party lines. Dow Jones Industrial Average (DJI) futures are up more than 1,100 points, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures sit comfortably higher as well.

Renewable energy and healthcare stocks are rallying in response to the election results, while defense and AI infrastructure suffer notable setbacks, as many local elections also saw a historic flip to blue. Elsewhere, ADP private-sector payrolls rose by 86,000 in October, above the 75,000 estimate.

Continue reading for more on today's market, including:

• What to expect when the VIX overtakes 20, per Schaeffer's Senior Quantitative Analyst Rocky White.
• Checking in with AppLovin stock ahead of today's report. 
• Plus, DJT, TSLA, and SPCX fall after midterms; and CVS announces big plans. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 1.7 million call contracts and 1 million put contracts traded on Tuesday. The single-session equity put/call ratio rose to 0.60, while the 21-day moving average remained at 0.58. 
2. Trump Media & Technology Group Corp (NASDAQ:DJT) is down 10.9% premarket, following the Democratic party's strong performance in midterm elections. Should these losses hold, DJT will mark a new record low and weigh further on its already 55% year-to-date deficit.
3. Elon Musk's Tesla Inc (NASDAQ:TSLA) and Space Exploration Technologies Corp (NASDAQ:SPCX) are also falling after the election results, down 5.2% and 6.9%, respectively, before the bell. Many of the newly elected officials have strong positions regarding the rapid AI data center buildouts across the U.S. So far in 2026, TSLA has shed 11%, while SPCX has lost 6.3% already this quarter.
4. CVS Health Corp (NYSE:CVS) is down 5.1% in electronic trading, after the drugstore giant said it would split into two publicly traded companies by the first half of 2028. Since the start of the year, CVS is up 15.2% coming into today. 
5. There is plenty more economic data due out this week. 

Global Markets Gain Despite AI Weakness

Asian markets finished mostly higher, with the exception of Japan’s Nikkei, which shed 1.4% as chip stocks and AI sentiment backpedaled following the U.S. midterm election results. The remaining indexes logged comfortable gains, with Hong Kong’s Hang Seng up 1.7%, South Korea’s Kospi 0.6% higher, and China’s Shanghai Composite leading the pack with a 2.2% pop.

European sentiment is high, with help from renewable energy stocks. Driven by a weakening U.S. dollar, the British pound climbed to a seven-week high as investors eye the Bank of England (BoE) interest rate decision tomorrow. Meanwhile, Euro zone inflation rose 4% in October, hitting a three-year high and matching analyst estimates. At last check, London’s FTSE 100 is up 1.5%, France’s CAC 40 is surging 1.7%, and Germany's DAX has added 1.6%.