Sherwood News head of markets Luke Kawa outlines the US midterms, with 506 national contests including 435 House seats, 35 Senate races and 36 governorships. Democrats need to pick up three House seats and four Senate seats on net, with polls putting a House flip as almost certain and the Senate on a razor's edge. The discussion highlights 41 data center measures on ballots across 13 states, with at least $100 billion in data center investment at stake. These results are seen as a signal for future policy and for where and when major developers such as Alphabet, Anthropic or Microsoft can build out capacity. It also raises what could happen to Musk's business in Texas if Democrat Gina Hinojosa wins the governorship.
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Related tickers and likely impact
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 11/02/2026 | 507.12 |
| Change that session | -2.83% |
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/02/2026 | 202.06 |
| Change that session | -1.26% |
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