Texas Turns Blue, Futures Turn Green: Why Wall Street Bought The Biggest Democrat Wave Since 1993 Last night, America's voters handed Trump the biggest midterm rebuke in a generation. Then, a few hours later, Wall Street shrugged it off. Nasdaq futures, which had crashed as much as 2.4% as the blue wave turned into a tsunami , were up 0.9% by morning in New York, having ripped 929 points off the overnight lows .
So the market's reaction to Democrats taking both chambers of Congress, the Texas governor's mansion and a Senate seat in Kansas for the first time since 1932 was... buy the dip . Here is how it went down, from Michigan to the Rio Grande Valley, and why Goldman and Deutsche both think the morning-after rally has legs (for now).
Seven Flips, A Texas Earthquake And The First Muslim Senator Democrats needed a net gain of four Senate seats.