President Donald Trump said Republicans notched a win in Guam's governor race and secured a majority in the Guam Senate, calling it a potential signal of momentum heading forward.
Trump said Guam had an "early call" for a Republican victory for governor and congratulated Tony Ada, while also claiming Republicans now hold the Senate. The comments were posted on Truth Social.
"Guam, which has always been considered strongly Democrat, just had an early call for a REPUBLICAN Victory in the top spot, Governor — Congratulations to Tony Ada! Also, the Republicans have the Majority in the State Senate. Wow, hopefully that's an indication for things to come! President DONALD J. TRUMP," he wrote.
The State Street SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust (NASDAQ:QQQ) moved higher as Election Day wore on, per market data, with the S&P 500 rising on a further drop in crude oil prices ahead of midterm results.
The Nasdaq-100 rose 0.6% but still traded in correction territory, down more than 10% from its recent high, according to CNBC.
James Talarico's Bipartisan Approach
That momentum is echoed in Texas, where Democratic Senate candidate James Talarico expressed a willingness to work with Trump on bipartisan initiatives if elected.
In a Tuesday podcast, Talarico said he would collaborate with Trump on health care, housing and regulatory reforms, viewing it as a chance for a rebirth of Trump's presidency.
Greg Abbott's Reelection Odds
In Texas gubernatorial politics, Trump has thrown his support behind Gov. Greg Abbott, endorsing him as an "exceptional Governor."
As of Monday, bettors on Polymarket gave Abbott a 60% chance of winning a record fourth term, though his odds have recently declined from a peak of 95% in July.
Texas Senate Race Tightens
The Texas Senate race remains competitive. In a Thursday interview, Verasight CEO Ben Leff noted that despite markets giving Talarico a 70% chance of victory, the race is closer than many realize.
Polling shows Talarico leading Republican Ken Paxton by a narrow margin, emphasizing the importance of voter turnout.
Scaramucci's Senate Prediction
On Wednesday, Anthony Scaramucci highlighted the potential for Republicans to maintain control of the Senate, citing Trump's under-polled support. However, cryptocurrency markets disagree, giving Democrats a 67% chance of winning both chambers of Congress.
Prediction Markets Favor Democrats
As of Tuesday, prediction markets like Kalshi and Polymarket expect Democrats to gain control of the Senate with at least 53 seats. The markets give Democrats a 74% chance of winning the Senate, reflecting a potential shift in political power.
