Alphabet (GOOG) rose 3% and Amazon (AMZN) jumped 6% as Big Tech led stocks higher after Democrats won control of the House and Senate. The author views the rebound as relief, since a new Congress does not fix Alphabet's Search miss or its negative free cash flow. If data-center rules tighten, hyperscalers like Alphabet and Amazon may have to cut spending, which would boost free cash flow; meanwhile Vertiv (VRT) fell 13% and Meta (META) rose only 1%. Alphabet's free cash flow fell from $24.5 billion in the September quarter of 2025 to negative $9.1 billion a year later. The stock trades at 20x forward earnings, below its five-year average of 23x.
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GOOGLAMZNmidterm electionsdata centerstech stocks
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.6T |
| Close on 11/04/2026 | 266.14 |
| Change that session | +6.16% |
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 11/04/2026 | 288.99 |
| Change that session | +3.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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