News and market highlights

Control of the U.S. Senate is on the line in the 2026 midterms, with Republicans defending a 53-47 majority and Democrats needing a net gain of four seats to retake the chamber, according to 270toWin. Key battlegrounds include Maine, North Carolina, Georgia and Michigan, according to Race to the WH.

Ken Paxton, former Texas attorney general, faces Democrat James Talarico, a state representative, in what has emerged as an unusually competitive race for a Senate seat in a reliably Republican state, according to AP. Paxton won the Republican primary after surviving his 2023 impeachment and acquittal, while Talarico has sought to consolidate support from moderate and independent voters.

Democrats have expanded their list of targeted Republican-held House districts as the 2026 midterms take shape, with inflation and an escalating trade dispute with Canada shaping the economic backdrop, according to Fox News. Republicans hold a sizable financial edge heading into the fall, with the Republican National Committee and Trump-aligned groups outraising Democratic committees by several multiples.