News and market highlights

Democrats won control of the Senate in the midterms, and Senate Democrats are expected to pick their leader in closed-door, secret-ballot elections in December, according to AP. Chuck Schumer has said he expects to stay on as leader, while Sen. Chris Van Hollen of Maryland is considering a challenge as several incoming Democratic senators say they won't back Schumer.

The FAA issued a rare nationwide ground stop for all U.S. airports after communication issues hit multiple Air Route Traffic Control Centers, with inbound international flights handled case by case while technicians investigate, according to CNBC. It is only the third nationwide ground stop in U.S. history, following the 2001 terrorist attacks and a 2023 outage of a pilot alert system, according to CNN.

Democrats flipped both the House and Senate in Tuesday's midterm elections, taking full control of Congress for the first time since 2022, according to NBC News. The shift in congressional power sets up a new era of oversight for President Trump's Cabinet, with Democratic-led committees poised to scrutinize senior officials when the new Congress convenes.