What are today's top business/market headlines?

I'll pull today's top business and market headlines for you.

Today's Top Business / Market Headlines — Wednesday, November 5, 2026:

1. Markets React to U.S. Midterm "Blue Wave"

•Democrats have taken control of the Senate and House as a blue wave surged across the country - flipping Senate seats in Maine, Iowa, Kansas, Ohio, Texas, South Carolina and North Carolina.

•U.S. stock indexes were in the green early Wednesday as a classic post-midterms relief rally kicked into gear. US stocks rally after midterm vote as oil prices fall and tech optimism rises.

•The expectation is for legislative gridlock between President Donald Trump's administration and the newly elected Democratic Congress, which historically reduces risk of aggressive corporate tax hikes or abrupt policy interventions.

•Oil Plunges: Crude oil prices were falling Wednesday morning as markets assessed the shifting political landscape. Oil Prices Sink as U.S. Midterms Raise Market Hopes for Middle East Solution. Oil futures sank to two-month lows after the Democratic sweep raised market expectations for a quick resolution to the conflict in the Middle East.

•Big Tech Rotation: Big tech stocks soar as investors bet Democrats could bring AI spending back to realityand Big Tech Stocks Soar as Traders Bet Democrats Will Slow AI Spend was a top Bloomberg headline. Tesla and SpaceX shares declined after Democrats gained congressional control.

2. Earnings & Corporate Movers

•AMD, Arista, Super Micro — AI Infrastructure Strong: Advanced Micro Devices rose 7.3% in premarket trading after forecast faster growth through 2027, signaling spending on AI computing was extending beyond Nvidia. Arista Networks and Super Micro Computer also reported better-than-expected results.

•CVS Health Breakup: CVS Health has decided to split in two, reversing one of the signature deals that defined an era of health industry gigantism. One company will house its insurance giant Aetna and pharmacy-benefit manager Caremark, the other its 9,000 retail pharmacies. CVS Plans to Break Up Healthcare Conglomerate, FT Reports. CVS also raised its outlook after stronger health benefits and pharmacy results.

•Qualcomm + SpaceX: Qualcomm to build technology for SpaceX's U.S. Starlink Mobile 5G network.

•Expedia: Expedia shares slide despite Q3 beat as Q4 outlook and AI disruption weigh.

•Novo Nordisk: Novo Nordisk Lifts Guidance as Rollout of Wegovy Weight-Loss Pill Continues. Separately, Novo Nordisk beats Q3 profit forecast with 27% growth, raises 2026 outlook.

•Kraft Heinz: Kraft Heinz will exit North American coffee business through $650 million deal.

•Wayfair: Wayfair says sales advanced at their quickest pace since the pandemic - sales jump 10%.

•AstraZeneca: AstraZeneca reportedly offers $10 billion to acquire Rhythm Pharmaceuticals.

•Arm & Others: Arm Holdings revenue grows 27% as AI and data center demand lift sales, but shares slipped as guidance lacked a blowout. HubSpot, Cirrus Logic, Dutch Bros also moved on earnings.

3. Financials & Economy

•DBS: DBS names Lim chair as third-quarter profit falls short amid trading slump.

•Treasury: Treasury updates debt-sale guidance as Wall Street reworks issuance forecasts. Opened the door to changes in how it finances the growing U.S. debt.

•U.S. Trade Gap: U.S. trade gap narrows slightly in September as goods exports rise.

•Today's Data to Watch: MBA Mortgage Applications, ADP Employment Change (October), Imports/Exports (September), S&P Global Services PMI, ISM Services PMI, and EIA Crude Oil Inventories.

4. UK / Global Business

•British Chancellor Rachel Reeves is weighing cuts to green levies and taxes on energy bills as part of a multi-billion-pound support package.

•Associated British Foods ABF said it has held confidential talks for weeks about potentially spinning off its discount clothing chain Primark as a separate listed entity.

Want a deeper dive on any of these — e.g., AMD earnings, CVS breakup details, or pre-market futures?

Citations (2)

1thestreet.comNews and mediaquality 0.82
Blue Wave Pops Market, But Can It Overcome Technical Hurdles?: 8 Key Items Shaping the Stock Market Wednesday
Backs: “Today's Top Business / Market Headlines — Wednesday, November 5, 2026: 1. Markets React to U.S. Midterm "Blue Wave". Democrats have taken control of the Senate and House as a blue wave surged across the country - flipping Senate seats in Maine, Iowa, Kansas, Ohio, Texas, South Carolina and North Carolina.”
2dailydigest.comNot yet classified
Business News: Latest Headlines and Breaking Stories | Daily Digest
Backs: “stock indexes were in the green early Wednesday as a classic post-midterms relief rally kicked into gear. US stocks rally after midterm vote as oil prices fall and tech optimism rises.”