Democrats swept the midterms, taking both chambers of Congress and a handful of governor's races. The market’s response has been extreme to say the least: the strongest rally in a year yesterday, and a nosedive into correction territory today.

But economists’ response is much more measured, and can be summed up in one word: “Chill.” Experts say the economic landscape isn’t likely to shift substantially under new Congressional leadership, since tariffs, trade, and the Iran war all run on executive orders, not legislation.

Washington may have a new seating chart, but the kitchen is still serving the same menu.

— Brooks & The Street Sheet Team

📉 | Nvidia (NVDA) shed nearly 10%, rocked by data center buildout concerns.

📈 | Unity Software (U) crushed Q3 earnings and revenue estimates.

📉 | Tesla (TSLA) slid again as Democratic wins in Texas stoked fears of a slower AI build-out.

📈 | EPAM Systems (EPAM) raised full-year earnings guidance and boosted its buyback by $1.5B.

📉 | Tripadvisor (TRIP) plunged on a CEO and CFO exit and weak Q4 guidance.

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JetBlue's turbulence may finally be clearing.

Deutsche Bank upgraded the budget air carrier to Buy, saying the near-term backdrop for airline stocks has improved sharply over the past month.

Analyst Michael Linenberg sees three tailwinds: tight industry supply into next year, carriers prioritizing yield, and product launches that should boost revenue and margins in 2027 and beyond.

That yield push is a response to inflation, including pricier fuel. Linenberg thinks it disproportionately helps carriers serving value-conscious, discretionary travelers. In other words, JetBlue's crowd.

He also sees a political angle. If a Democratic Congress cools Middle East tensions, fuel price swings could ease. Momentum is already building after JetBlue raised its full-year guidance for revenue per available seat mile in late October.

Seasonality helps, too. Airlines have posted positive December-quarter returns in 21 of the last 25 years, per Deutsche Bank.

Still, the bank is flying solo. Of the 18 analysts covering JetBlue, 13 rate it a Hold.

Shares are in the red year-to-date, but Deutsche Bank is betting the stock is finally cleared for takeoff.

😱 Wall Street's fear gauge posted its biggest one-day move since April as the major indexes reversed yesterday’s post-midterms rally.

🗳️ About two-thirds of midterm voters said President Trump's economic policies fueled inflation, per The AP Voter Poll.

💰 The IRS lifted the 2027 estate and gift tax exemption to $15.48M per person.

✈️ A second wave of bomb threats this week hit passenger flights across Europe, forcing diversions.

🛢️ Two tankers carrying Russian diesel to the US changed course, casting doubt on Trump's deal with Putin.

Do you own shares of Republic Services (RSG)?

▇▇▇▇▇▇ 🐂 Yup, I’m holding

▇▇▇▇▇▇ 🐻 Nope, not interested

▇▇▇▇▇▇ 👀 No, but I’m interested