Hinojosa Ousts Abbott in Texas, Johnson Exits GOP Leadership, DSA Gains Ground: AM Update 11/5
Democrat Gina Hinojosa defeats Texas Governor Greg Abbott in a historic upset, becoming the state’s first Latina governor as questions remain about her progressive record and ambitious economic agenda. House Speaker Mike Johnson steps aside from Republican leadership following the GOP’s devastating midterm losses, setting up a showdown between Steve Scalise and Jim Jordan to become minority leader. Democratic Socialists make historic gains in Congress, expanding their ranks to eight members and potentially complicating Hakeem Jeffries’ path to the speakership. Wall Street rallies following Democrats’ sweeping midterm victories as investors welcome divided government, while companies tied to President Trump and Elon Musk suffer significant losses.
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