Cathie Wood: S&P 500 Rises After Midterms

Cathie Wood opened her latest market commentary by mourning the death of longtime ARK supporter John Nosta, author of the newly released book The Borrowed Mind: Reclaiming Human Thought in the Age of AI. She then placed this week’s equity weakness and congressional results in historical context, noting that the S&P 500 Index has posted gains in the twelve months after every midterm election since 1958, including the crash year of 1987. Wood argued that voters focused on affordability pushed outcomes toward Republicans and that companies building AI data centers will address local concerns with jobs, tax relief and infrastructure funding. She added that accelerating AI-driven productivity will lift wages, margins and investment while lowering consumer prices, keeping the broader growth trajectory intact despite short-term uncertainty over foreign policy.