Good morning, you're listening to Markets Desk.
Democrats delivered a decisive rebuke in the two thousand twenty six midterms, and markets are already repricing the political landscape. SpaceX and Tesla each shed around four percent in premarket trading, reflecting Elon Musk's close alignment with the Trump administration, while AI-related names traded in mixed fashion as investors assessed what a Democratic resurgence means for tech regulation and federal contracting.
Across the Atlantic, euro zone inflation has hit four percent for the first time in three years, with energy prices doing the heavy lifting — surging more than twenty percent in October alone. That print keeps the European Central Bank firmly on a tightening path, and bond markets there are adjusting accordingly, with rate-sensitive instruments under pressure as traders price in the next hike.
On the consumer side, a quieter but telling story is playing out in the spirits industry. Diageo and Pernod Ricard have largely missed the ready-to-drink cocktail wave that beer companies have ridden straight into happy hour, and their shareholders are feeling it. The canned cocktail craze has redistributed shelf space and wallet share in ways the legacy liquor giants are still scrambling to answer.
That's the tape. Markets Desk, signing off the floor.
