Markets cool after the monster midterm rally with Musk's stocks under pressure – CNBC

Markets cool after the monster midterm rally with Musk’s stocks under pressure  CNBCHere’s what the Democratic election rout could mean for the U.S. economy  CNBCStocks Mostly Up Pre-Bell as Traders Weigh Impact of Democrats’ Midterm Victory  Yahoo FinanceDow has best post-midterm elections day in 44 years as Democrats take control of Congress  CNNStock Rotation Rolls On as Chipmakers Retreat: Markets Wrap  Bloomberg.com

Futures are mixed and oil settles after a sharp sell-off Hello, this is Leonie Kidd with today's edition of Morning Squawk. Cooler heads are prevailing after the monster rally that drove the best day for the Dow in over a year and a half. Investors are now assessing the impact of a new Democratic controlled Congress and how that changes the market landscape. Futures are mixed across Wall Street after the Dow closed its best day since April 2025, soaring over 1,500 points on the Democrats' decisive midterm victory. A huge boost for stocks came from the plunging oil price.

Brent and WTI have settled lower after falling over 8% in Wednesday's session. That came as the Trump administration admitted the role the Iran war had played in the poor Republican results. It has been a mixed handover from Asia, where Japan's Nikkei and South Korea's Kospi fell sharply amid a deepening tech rout, despite strength across the wider market. European stock markets are broadly higher. President Donald Trump told CNBC's Eamon Javers in a brief call late Wednesday that he can work with Democratic majorities in