{
  "id": 18190075,
  "title": "US stocks: Wall Street ends higher after Democrats win Congress; data centre stocks tumble",
  "url": "https://urgent.news/2026/11/04/us-stocks-wall-street-ends-higher-after-democrats-win-congress-data",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-04T21:52:46.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-stocks-wall-street-ends-higher-after-democrats-win-congress-data-centre-stocks-tumble"
  },
  "original_language": "en",
  "account": "The US stock market concluded higher on Wednesday (Nov 4) following Democrats' decisive midterm election victory, which eased political uncertainty and increased risk appetite. Democrats gained control of both the Senate and the House of Representatives, marking a historic win in Republican strongholds for the first time in generations amid widespread voter backlash against President Donald Trump. The rally was driven by expectations that a potential slowdown in AI infrastructure expansion would favor large technology stocks, while smaller companies involved in AI infrastructure faced concerns over the potential strain on their finances due to a slowdown.\n\nData center operators experienced a sharp decline, as investors grew apprehensive about potential tighter AI regulation. Several prominent AI companies, including Microsoft, Amazon.com, Alphabet, and Meta Platforms, saw their shares rise, buoyed by the hope that a slower expansion of AI infrastructure would decrease cash demands for these tech giants. On the other hand, data center operators such as Hut 8, IREN, Core Scientific, and Applied Digital experienced significant losses.\n\nThe decline in oil prices, driven by a shift in power and the end of the Iran war, added to the positive sentiment for the overall market. However, defense stocks such as Northrop Grumman, RTX, and Lockheed Martin declined due to the possibility that President Trump's US$1.5 trillion defense budget request might face resistance in Congress under Democratic control.\n\nSolar and clean energy stocks saw a surge, as investors anticipated that a Democratic sweep would ensure continued federal support for clean energy development. The Invesco Solar ETF increased nearly 6 percent. Notably, SpaceX and Tesla experienced a drop in their stock prices, with Musk, the prominent Elon Musk-led company, spending nearly half a billion dollars to back Republican candidates, with a focus on keeping Republicans in power in Texas.",
  "summary": "All three major indices closed higher for the day",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "Al-Monitor",
        "title": "Gulf markets gain, oil falls as Democrats win Congress",
        "url": "https://urgent.news/2026/11/04/gulf-markets-gain-oil-falls-as-democrats-win-congress",
        "published": "2026-11-04T11:43:39.000Z"
      },
      {
        "outlet": "BusinessDay Nigeria",
        "title": "Global stocks gain, dollar dips as Democrats take control of US Congress",
        "url": "https://urgent.news/2026/11/04/global-stocks-gain-dollar-dips-as-democrats-take-control-of-us",
        "published": "2026-11-04T11:46:13.000Z"
      },
      {
        "outlet": "Business Standard IN",
        "title": "Wall Street rallies after Democrats win Congress, data center stocks slide",
        "url": "https://urgent.news/2026/11/04/wall-street-rallies-after-democrats-win-congress-data-center-stocks",
        "published": "2026-11-04T16:39:34.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Democrats map out an agenda to address affordability and corruption after midterm sweep",
        "url": "https://urgent.news/2026/11/04/democrats-map-out-an-agenda-to-address-affordability-and-corruption",
        "published": "2026-11-04T19:00:52.000Z"
      },
      {
        "outlet": "MarketWatch Top",
        "title": "Dow scores its best day in 18 months in a broad relief rally after Democrats sweep to power in Congress",
        "url": "https://urgent.news/2026/11/04/dow-scores-its-best-day-in-18-months-in-a-broad-relief-rally-after",
        "published": "2026-11-04T21:29:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}