US midterm voting left control of both chambers undecided, adding to market
uncertainty while equity futures were largely flat. S&P 500 futures were little
changed and Nasdaq 100 futures rose about 0.3%, recouping part of recent losses
as tech stocks staged a cautious rebound after entering a technical pullback a
day earlier. Prediction market Polymarket prices Democrats' chances of winning
House control at roughly 95% and Senate control at about 77%, implying a
substantial probability of unified Democratic control. Divergence between polls
and prediction markets is prompting position adjustments. The Sevens Report
founder Tom Essaye said: "For all of the predictions and market reactions
tonight, investors should remember one key data point — though past performance
does not guarantee future results, since 1950, the S&P 500 has never been below
its election-day level 12 months after midterm elections. That is the most
important point for clients."
