Mosaic Leads S&P 500 With 17.3% Jump as Democrats Sweep Midterms

The Dow Jones Industrial Average soared 1,569 points, or 3%, to close at 53,356.12 on Nov. 4 — its best day of 2026 — after the Democratic Party won majorities in both houses of Congress. The S&P 500 rose 1.6% and the Nasdaq Composite gained 1.4%, according to closing prices.

The election reshaped the market in one session. Affordability ranked as a key voter issue, so home builders, retailers and healthcare companies led the winners. Companies exposed to the Democrats' push to slow the build-out of artificial-intelligence infrastructure, such as data centers, took the hardest hits.

Fertilizer maker Mosaic finished as the strongest performer in the S&P 500, up 17.3%. Payment processor Block added 15.4%. Fidelity National Information Services fell furthest, down 23.5%.

How did the sectors trade?

Nine of the 11 S&P 500 sectors closed higher, per FactSet data. Consumer discretionary led with a 4.3% gain, followed by:

• Financials: +3.5%
• Real estate: +3.2%
• Materials: +3.1%
• Healthcare: +3.0%
• Communication services: +3.0%
• Consumer staples: +2.9%
• Information technology: +0.5%
• Utilities: +0.4%

Industrials slipped 1.1%. Energy took the biggest hit, down 4.8%. Treasury yields and oil prices also fell on the day.

The S&P 500 home-building industry group jumped 7.3% for the session, FactSet reported, as investors bet Washington would now address housing affordability. The PHLX Semiconductor Index declined 3.1%, striking at the core of data-center optimism.

Among all S&P 500 stocks, 74% ended with gains. Some 22% posted gains of 5% or more.

Why did Mosaic lead the winners?

Mosaic, a supplier of phosphate and potash, surged 17.3% after reporting third-quarter results. The company posted a net loss of $72 million — narrower than the $273 million net loss in the second quarter, though down from a $411 million profit in the third quarter of 2025. Net sales came in at $3.1 billion, versus $2.8 billion the previous quarter and $3.5 billion a year earlier.

CEO Bruce Bodine said in the earnings release that the company "continued to advance opportunities to optimize the portfolio" amid supply challenges, positioning it for when industry conditions improve. Mosaic also said it expects capital expenditures to fall to $1 billion in 2027 from an estimated $1.2 billion this year.

Block ranked second with a 15.4% gain. The payment processor issued a preliminary 2027 outlook calling for 5% revenue growth and 30% earnings growth, matching its current full-year 2026 outlook.

Stanley Black & Decker rose 13.2% after reporting a sharply improved profit margin. Third-quarter net earnings climbed to $272.1 million from $51.4 million in the year-earlier quarter. The toolmaker raised its 2026 earnings-per-share guidance range to between $5.45 and $5.85, up from the prior $4.60 to $5.45.

The rest of the top 20 winners underlined the election's sector tilt: healthcare names Moderna (+13.2%), Zimmer Biomet (+13.0%), Centene (+12.8%), Universal Health Services (+10.9%), HCA Healthcare (+10.3%) and Stryker (+9.6%) all surged. Travel and consumer names Expedia (+10.6%), Booking Holdings (+9.9%), Dollar Tree (+9.7%) and Carvana (+8.9%) joined them, alongside CDW (+12.8%), Jack Henry (+10.7%), AppLovin (+10.4%), Newmont (+10.0%), 3M (+9.6%), Intuitive Surgical (+9.4%) and Align Technology (+9.0%).

What drove the biggest losers?

Fidelity National Information Services, a financial industry service provider, was the worst performer in the S&P 500, falling 23.5%. Early on Wednesday the company lowered its 2026 outlook for sales and earnings and initiated 2027 guidance that disappointed investors.

Oppenheimer analyst Rayna Kumar downgraded the stock to perform from outperform. Systems-conversion delays for new customers, plus "bank consolidation, lower license and termination fees, and higher tax and interest expense," all weighed on the 2027 outlook, Kumar wrote in a note to clients.

The broader loser list showed the data-center trade unwinding. Power providers NRG Energy (-13.9%) and Vistra (-13.9%) fell alongside Texas Pacific Land (-13.8%) and Vertiv (-12.9%).

• Trimble: -17.4%
• Comfort Systems USA: -15.3%
• Datadog: -14.4%
• CVS Health: -12.4%
• Flex: -12.3%
• Quanta Services: -11.6%
• Eaton: -10.0%
• Emcor: -9.7%
• Generac: -9.7%
• Ciena: -9.4%
• GE Vernova: -9.3%
• Dell Technologies: -8.9%
• Seagate Technology: -8.2%
• Marathon Petroleum: -8.1%
• Sandisk: -7.9%

Many of these names carried big 2026 gains into the session — Dell up 195.5% year-to-date, Seagate up 102.2%, Marathon Petroleum up 141.6% — which suggests the selloff hit crowded positions built on data-center growth expectations.

The session sets a clear test for the new Congress: if Democrats move to restrain AI infrastructure spending while pushing affordability policy, the split between healthcare-and-housing winners and power-and-chip losers could define the market's next leg.