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Democrats swept both chambers on November 3, but a midterm wave is a very different animal from a presidential election — and both parties would be foolish to read Tuesday as a coronation.
The Dow jumped 1,569 points the day after the midterms — its best post-midterm rally in 44 years. The market did not fall in love with Democrats. It fell in love with certainty, gridlock, and cheaper oil.
Ro Khanna says a Democratic Congress will cut off money for the Iran war "on day one." The power of the purse is real — but so is the veto, and the fight will be messier than the slogan.
New York's mayor delivered the rent freeze, started free childcare, and stalled on free buses. The real lesson of his first year is about what a mayor can actually do alone.
Big Tech has taken on an estimated $3.6 trillion in off-balance-sheet commitments to build the AI future. The chips are real. The question is who pays if the future arrives late.
Paramount Skydance closed its $81 billion takeover of Warner Bros. Discovery on October 6 — and in doing so, it confirmed that the movie business is now a tech and finance business that happens to make movies.