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1 Dow Shoots Up 1,500 Points And Oil Prices Fall After Tuesday's Midterm Election Results
U.S. stocks jumped yesterday after Democrats won control of Congress, while oil prices fell sharply. The Dow gained 1,569 points, or 3-percent, the S&P 500 rose 1.6-percent in its best day in three months, and the Nasdaq climbed 1.4-percent. While markets were shooting up, oil was moving sharply down. Brent crude dropped 8.7-percent to $94.62 a barrel, its lowest price in two months. It wasn’t all good news, though, as some technology stocks struggled; Nvidia lost 3.2-percent and CoreWeave dropped 9.9-percent amid concerns about tighter AI rules .
2 Midterm Election Update: Vice President Vance Tries To Distance Himself From Iran War After Bombshell Midterms
Vice President JD Vance blamed the Iran war for Republican losses in the midterm elections, breaking with President Trump’s defense of the conflict. Vance said the war, rising living costs, and concerns that America was not being put first helped push Republican voters toward Democrats. Trump said he had spoken with Vance and accepted his comments, but continued to defend the war as necessary. Democrats said Vance shares responsibility for the administration’s choices and questioned why he had not spoken out more strongly earlier. An AP voter survey found about six in 10 voters thought attacking Iran was the wrong decision.
3 House Speaker Mike Johnson Isn't Running For Minority Leader
House Speaker Mike Johnson will not seek to remain the House Republican leader after his party lost its majority in the midterm elections, but he’s expected to keep his Louisiana seat, having won a sixth term. His decision sets up a leadership contest between Steve Scalise of Louisiana and Jim Jordan of Ohio, who have both announced bids. Republicans are expected to choose their leader next week. Democrats, who won control of the House, are preparing to nominate Hakeem Jeffries for speaker when the new Congress begins in January.