Midterm Elections Near: Congress Control at Stake, Markets Watch Historical Patterns

U.S. voters are one day away from midterm elections in which all 435 House seats and 35 of the 100 Senate seats are on the ballot, along with numerous state governorships. The Senate contests include 33 regular elections and two special elections, in Florida and Ohio. The vote falls halfway through President Donald Trump's term and serves as a de facto referendum on his administration, though he is not on the ballot. Trump spoke at a rally at Florida Gulf Coast University's Alico Arena in Fort Myers on October 23, 2026. State and local authorities across thousands of counties run voting, ballot printing and counting independently. Markets are anxious going in, but a CNBC analysis of S&P 500 returns from 1980 through 2024 found the index rose an average 13.7% in the year after midterms and was up after all 11 midterms from 1982 through 2022. Across 15 elections that left no single party in charge, one-year gains averaged 15%.

The left-leaning New York Times frames the story as a political scorecard, asking who is winning the race for Congress and offering a one-day-out "state of play." The excerpt available gives no figures or named voices. Right-leaning outlets had not reported this story at the time of writing, while left-leaning and alternative outlets had. The alternative outlets take two distinct angles: The Hindu explains what midterms are, covering seat counts, term lengths and decentralized administration, while CNBC focuses on S&P 500 history and quotes strategist Ryan Detrick on pre-election anxiety and relief afterward.