ABC business blog covers market reaction to Democratic control of both houses of parliament
AI-generated summary
Democrats won big in US mid-term elections, taking control of both houses of parliament and winning numerous governor races. The elections were held across the world's largest economy.
Hello, I'm Daniel Ziffer from the ABC business team and I'll be taking you through the morning on our business, finance and economics blog.
In mid-term elections, Democrats won big.
The left-leaning party now controls both houses of parliament in the US and won a swathe of races for governor and other positions, in elections held across the world's largest economy yesterday.
Overnight, Wall Street indices reacted: with a rocket.
The blue-chip Dow Jones of 30 mega-companies like Boeing and Visa was +3% to 53,342 points.
The broader S & P 500 that covers 500 of the largest listed companies in the US +1.7% to 7,698 points.
The tech-heavy Nasdaq was +1.7% to 25,811 points.
These numbers are live, and trading is continuing, we'll update you when there's a firm closing price.
Our market is set to follow, with the ASX 200 futures index tipping a lift of +1.9% or 171 points to 9,027 points.
There's lots to get to, all of it news, analysis and information and none of it financial advice.
Let's get started!
AI outlook — possibilities, not facts
ASX 200 will open higher following US market gains
Likely · Within hours
ABC will update with firm closing prices for Wall Street indices
Very likely · Within hours
Donald Trump described the war in Iran as "brilliant" just before US mid-term voters delivered a stinging rebuke to Republicans in states including Texas, Iowa and Kansas. Australia's Albanese government, initially supportive of US strikes, now warns Australians are cost-of-living casualties of decisions taken in Washington and Tehran, as the Reserve Bank delivers a fifth interest rate hike this year.
Retailer David Jones faces speculation of entering voluntary administration amid rent arrears. Consumer advocates urge customers to quickly spend gift cards, clear lay-bys, and handle returns before potential insolvency proceedings.
Australia's lenders will raise variable mortgage rates by 0.25 percentage points after the Reserve Bank of Australia lifted the cash rate to an 18-year high of 4.85 per cent. Macquarie Bank moved within an hour, followed by the big four banks from November 13, adding roughly $79 monthly to repayments on a $500,000 owner-occupier loan.
David Jones may enter administration within 24 hours after failing to pay rent since September at 17 Westfield locations. Scentre Group says its lifeline offer was rejected by Anchorage Capital Partners, and thousands of jobs could be at risk.

Choice's 21st annual Shonky awards named Virgin Australia, Ticketmaster, Ticketek, Hisense, Petcover, Quest, and Sony as Australia's worst products and services, citing $75m in unused flight credits, $1,650 concert tickets, and a 25-hour washer/dryer cycle.
Wall Street's VIX fear index fell 2% overnight as confidence returned, helped by falling oil prices, with rotation from industrial stocks into big tech names except Apple, which dropped nearly 2% after disappointing iPad sales missed estimates.