investingLive Americas market news wrap: Oil crushed as Republicans blame war for loss

October US ISM services 54.5 vs 54.8 expectedUS final October S&P Global services PMI 56.1 vs 57.9 prelimUS September international trade balance -105.0B vs -108.0B expectedCanada Trade Balance ($C) for September +5.35B vs +4.1B estimateThe biggest loser of the US elections was data centersEIA weekly US crude oil inventories -865K vs +877K expectedUS October ADP employment +86K vs +65K expectedHouse Democratic leader Jeffries says will pass bill to stop tariffs and to end the Iran WarTrump says election loss was largely a result of the Iran warThe market is telling the hyperscalers it's happy about a slower data center buildoutMarkets:WTI crude oil down $7.58 to $88.51S&P 500 up 1.7%Gold up $135 to $4063US 10-year yield down 6 bps to 4.89%NZD leads, USD lagsIt was a monumental day in markets as they recalibrated following the Republican drubbing in the midterms.

The votes continue to be counted but there is certain to be a large Democrat majority in the House and it appears Senate seats for Alaska and Mississippi (!) will go blue, giving them 56 in the Senate. The blame game is on for Republicans and the Iran war is at the top of the list, including from JD Vance.

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