Market Open: Stocks Rally as Democrats Score Big Midterm Wins • 11/4/26

0:01CNBC Business News Update. I'm Jessica Ettinger. Market open. Wall Street is rallying. After yesterday's decisive victory by Democrats who won control of the House of Representatives and the Senate for the first time in 20 years, the Dow is up 1 ,102 points out of the gate. That's more than 2 percent. Amazon shares leading it higher. They're up 6.5 percent. 3M shares are up 6.5%. Sherwin-Williams up more than 6%. Home Depot up 5%. The S &P 500 index adding 86 points now. That's more than 1%. The Nasdaq's up 270 points, just about 1%. Chipmaker shares mostly in the red out of the gate. Micron down 4%.

0:47Cerebra Systems down 3 % this morning. Voters delivering a stinging rebuke to President Donald Trump and his economic record over rising prices, government corruption, and the AI data center build out. President Trump congratulating the Democrats, saying yesterday he looks forward to working with them. There are big implications for AI companies, defense stocks, data centers, and more. Georgia Senator John Ossoff spoke about Wall Street money and AI billionaires in his acceptance speech. He was reelected to the Senate last night. Humanity is fast forgetting the terrible lessons of two world wars and the Holocaust.

1:30Meanwhile, the titans of Silicon Valley dig bunkers for themselves and warn that the artificial intelligence they're creating risks human extinction. Though we rightly celebrate tonight's historic victory, the fact is We've been too long mired in a small and selfish politics, bought by big money, unmoored from fixed moral principles and resigned to intractable division. Evercore's Roger Altman tells CNBC Democrats have a lot of work to do. They'll have a positive, clear, forward agenda. And that's what I think is incumbent on Schumer and Jeffries and the new majorities to do. Energy costs ending the round war, tariffs reclaiming Congress as prerogative, a secure and legal but better immigration system, health care, restore the Medicaid cuts, add the Obamacare subsidies back in and so forth, child care and taxes.

2:27Gold is back above$4 ,000 an ounce today, up almost 3%, heading for its best day since early August. Private companies added 86 ,000 jobs last month in the new ADP report on private hiring. That was more than expected. We get the Labor Department's big October jobs report on Friday morning. That will include government hiring. CVS will split off its drugstore business from its health insurance business and a major breakup of the health care giant. It's poised to be one of the biggest corporate splits in history. just about 10 years ago, the CVS chain bought Aetna and the pharmacy benefit manager Caremark.

3:08The breakup comes as companies like Caremark face mounting bipartisan scrutiny in Washington and in individual states. But the CEO told the Wall Street Journal that's not why the breakup is happening. Kraft Heinz says it's selling off its North American coffee business in a deal that values the unit at$650 million. The company is focusing more on its core packaged food and condiment business as it tries to turn around. Kraft Heinz shares were higher in early trading. McDonald's out with better than expected quarterly results, but investors are worried because traffic to the chain's U.S. restaurants fell.

3:46Tonight's Powerball jackpot, more than three quarters of a billion dollars, sitting at$835 million. Jessica Edinger, CNBC. My six-year-old little sister is taken from her bed and violently murdered, and we don't have any answers. It's been 30 years. That's not okay. We will find this person. It's not a question of if, but when. Who killed JonBenet Ramsey? You think you know this mystery, but do you know about the DNA at the crime scene? Can science finally solve this case? And who is unknown male one? An intruder, A third party male. So unknown male one is out there somewhere. Yes. The stunning all-new Diane Sawyer investigation tonight on ABC.