Top stories

The Big Read

The Numbers

Stocks Rose in the Year After 18 of the Last 19 Midterms, by Our Count. Congress Has 38 Days After Tuesday's Vote to Fund the Government.

We computed the market record ourselves, from a primary data series, and set it beside the calendar Congress faces once the votes are counted. The first deadline, for government funding, falls on 11 December.

A black Wall St street sign in sharp focus in front of a row of American flags and the blurred stone columns of the New York Stock Exchange.

A Wall Street sign and flags outside the New York Stock Exchange in Lower Manhattan, in January 2021. File photograph.

The S&P 500 rose in the 12 months after 18 of the 19 U.S. midterm elections held since 1950, and was flat after the 19th, by this publication's count of the index data compiled by Yale economist Robert Shiller. Americans vote in the 20th such election on Tuesday, 3 November 2026.

That record is often repeated around Election Day. We did the arithmetic ourselves, from a primary data series, and found that it holds up, with two qualifications. The sample is small, and the gap it shows is as much about the years that came before as about the vote. Past returns do not predict future ones. Polls close tonight, and no result is known.

Every one of the 435 seats in the House of Representatives is up, as it is every two years under Article I of the Constitution. In the Senate, 33 seats are up in the regular cycle, according to the Senate's own list of Class II senators, whose terms end on 3 January 2027. Two more, both held by Republicans, are special elections in Ohio and Florida, Ballotpedia reported, for 35 in all. Thirty-six states elect governors, along with Guam, the Northern Mariana Islands and the U.S. Virgin Islands, according to the National Governors Association.

Continue reading …

Opinion

What’s News

More News
Got a tip for us?

Editors read every submission. Here is how to send documents, on background or on the record.

How to submit

The Picture

Looking up at a tall pale-stone office tower with a grid of deep-set windows, rising behind a lower wing of the same building against a blue sky with white clouds.
280 Park Avenue in Midtown Manhattan, where Omnicom has its principal executive offices, in August 2024. File photograph.

Omnicom's Organic Growth Reached 7.2 Per Cent in Its Third Quarter With Interpublic. It Has Spent $3.2 Billion on Buybacks This Year, $857 Million More Than Its Free Cash Flow.

Editor's Choice

Latest News

Everything we have published, newest first

Business

The "Endless" Cruise Ship Paid $700 a Ton for Fuel Before the Iran War. It Stopped Sailing After Paying $2,000 to $3,000.

Villa Vie Residences suspended its residential cruise ship, the Odyssey, in Sihanoukville, Cambodia, on Tuesday, and told residents to leave within hours. Its executive chairman blamed fuel that cost $700 a ton before the Iran war and $2,000 to $3,000 since. He told CBS News the plan is to file for Chapter 11; no filing has been reported.

By Thomas Gutierrez  

A white cruise ship with Odyssey and Villa Vie Residences painted on its side lies at anchor beside a small orange tender, with green hills behind.

Explainer

The Pentagon Wants Its Major Bases Able to Run 90 Days on Their Own. Britain Is Asking Households to Manage for Three.

Internal Pentagon documents reviewed by Fox News Digital would require every major U.S. military installation to run essential operations on its own for at least 90 days, backed by reserves of munitions, fuel, minerals, spare parts and medical supplies. The plan, called FORTRESS, has no published cost or timeline. Nothing in the reporting mentions artificial intelligence or a specific nuclear threat.

By Alison Acosta  

A small wind turbine on a guyed pole stands among olive-green Army tents, with a ground-level solar panel, a power unit, orange traffic cones and a steel lattice tower under a blue sky.
Business

McKesson Is Paying $1.4 Billion for Half of Option Care. The Deal Sets Up a Framework for It to Buy the Rest.

Clayton Dubilier & Rice and McKesson agreed on Monday to take Option Care Health, the largest independent home infusion company in the United States, private for $32.05 a share. McKesson is putting in about $1.4 billion for 49 per cent, and the agreement sets out a framework for it to buy the private equity firm's majority later. Lenders have committed more money to the deal than the two buyers have.

A bag of blood with a drip chamber and tubing hanging from a stand in a clinical setting.
A Wendy's restaurant with a stone and stucco exterior, red patio umbrellas and a single grey car parked in front, under a clear blue sky.
Business

Trian Has Offered $7.35 a Share to Take Wendy's Private, About $1.4 Billion. That Is Roughly Half the $2.7 Billion of Debt the Bidders Would Keep.

Nelson Peltz's Trian Fund Management and Flynn Group, one of the largest Wendy's franchisees, proposed on 28 October to buy the shares of The Wendy's Company they do not own for $7.35 each in cash, about 20 per cent above Tuesday's close. On the 194.0 million fully diluted shares the letter assumes, that is about $1.4 billion. The proposal is non-binding and nothing has been signed.

By Daniel Okafor  

Markets

Ares Capital Will Pay a 30 Per Cent Premium for an Apollo-Managed Lender. The $10.88 Price Is Still 15 Per Cent Below What the Lender Says Its Loans Are Worth.

Ares Capital, the largest listed business development company, agreed on 26 October to buy MidCap Financial Investment Corporation, which is managed by an Apollo affiliate, for about $10.88 a share in cash and stock, a total enterprise value of about $2.6 billion. The price is a 30.1 per cent premium to MFIC's last close but below its preliminary net asset value of about $12.86 a share. The deal needs MFIC shareholder approval and is expected to close in the first half of 2027.

By Daniel Okafor  

The black glass and white travertine Solow Building at 9 West 57th Street in Manhattan, seen from street level against a blue sky, with older towers on either side.
Business

Boeing Delivered 161 Airliners Last Quarter and Lost About $4.3 Million on Each. Its 6,300-Jet Backlog Would Take About a Decade to Build at This Year's Pace.

Boeing said on 27 October that third-quarter revenue rose 4 per cent to $24.2 billion and its net loss narrowed to $116 million, from $5.3 billion a year earlier. Its commercial airplanes unit lost $697 million on 161 deliveries. Total backlog reached a record $745 billion, including more than 6,300 commercial jets.

By Daniel Okafor  

What We’re Following

View all

Business

UPS Raised Its Revenue Forecast by $1.4 Billion and Its Profit Forecast by $100 Million. The Fourth Quarter Now Has to Earn 37 Per Cent of the Year's Profit.

UPS said on 27 October that third-quarter revenue rose 6.7 per cent to $22.9 billion while adjusted earnings fell to $1.69 a share from $1.74. It raised its 2026 revenue outlook to about $92.6 billion, from $91.2 billion, and its adjusted operating profit target to about $8.75 billion, from $8.65 billion. U.S. parcel volume fell 3.3 per cent.

By Daniel Okafor  

A UPS Boeing 767-300F freighter in brown and white livery, with 'Worldwide Services' on its fuselage and the UPS shield on its tail, flying with landing gear down against a clear blue sky.
More Stories

Opinion Voices

Argument and analysis from our columnists

Featured Voices

The reporters and editors behind the coverage

The Story So Far

The Hormuz Closure29 stories

The Cranberry Brief

Reporting on business, technology and power, each weekday morning.

We’ll only use your address to send The Cranberry Brief. Unsubscribe anytime. Read our privacy policy.