Consumer Stocks Surge As Democratic Sweep Fuels Bets On Reversing Trump's Welfare Cuts The reaction to the US midterm election results, a Democratic sweep , has been risk-on in the US ... But as we noted earlier: *NASDAQ 100 FUTURES ERASE EARLIER GAINS TO TURN NEGATIVE — zerohedge (@zerohedge) November 4, 2026 Beyond data center moratorium threats and defense stocks getting hammered, Bernstein analysts see a new consumer stock trade emerging : We see the election results as a net positive for US Consumer equities , and US Retail, but today's improvement in our outlook will take time to materialize into stronger purchasing power for consumers.
Bernstein retail analyst Zhihan Ma wrote earlier today that Walmart, Dollar General and Dollar Tree could be potential beneficiaries if Democrats delay or reverse cuts to SNAP and Medicaid under Trump's One Big Beautiful Bill Act.