Midterm elections 2026 live updates: Economy, inflation and voter concerns

Voters are at the polls on Tuesday, Nov. 3 to decide control of Congress, in an election that could define President Donald Trump's final years in office.All 435 House seats and 35 Senate seats are at stake, as Republicans try to defend narrow majorities in both chambers despite strong headwinds. Voter frustration with Trump's war in Iran, inflation, perceived government corruption and immigration policy could weigh down Republicans this cycle. But Republicans have the bulk of billionaire campaign spending, and Democrats have faced drama in the Alaska and Michigan Senate races in the waning days of campaigning. FiftyPlusOne projects Democrats have a significant edge in the House and are favored in the Senate, with key races tightening in recent weeks. In the Senate, races in deep red states like Kansas, South Carolina and Nebraska could be in play, according to recent projections. Republicans could win in traditional Democratic strongholds like Minnesota and New Hampshire. And toss-up races in states including Alaska, Iowa, Maine, Michigan, Ohio and Texas will determine who wins the gavels next Congress.In the House, Republicans will find out if partisan redistricting in states including Texas and Florida, which they'd hoped would net them nine seats, actually pans out. And Democrats, who are hoping for a blue wave year, will try to knock off GOP candidates in districts that in past cycles were seen as out of reach.A win in either or both chambers would end unified Republican rule in Washington, disrupt the president's legislative agenda and begin a period of Democratic oversight and investigations aimed at the Trump administration, his associates and companies that have cozied up over the past two years.The Trump administration's monthslong campaign to challenge how states conduct elections and pushback against those efforts come to a head as well. The Justice Department said Tuesday it's sending about 1,000 election observers and monitors to all 50 states, a broader effort than the agency has ever deployed before.The Associated Press provides vote data and race projections for CNBC. Polls will begin to close at 6 p.m. ET with Alaska being the the last to close at 1 a.m. ET. Check back for Election Day updates and race calls throughout the night as results come in. Read more CNBC elections coverageMidterm elections could jolt stocks if Democrats sweep Congress5 things to watch on Election Day as Democrats push for control of CongressDefense, healthcare, crypto and AI: How the midterm election could affect stocksWhat the 2026 midterm elections could mean for Trump’s final two yearsNine Senate races may help determine the fate of Social SecurityStock market after midterm elections: What S&P 500 history showsConsumer sentiment has soured over recent monthsConsumers have reported feeling increasingly pessimistic the state of the economy over the last year. The question now is if that discontent will affect how they vote.The University of Michigan's closely followed consumer sentiment survey dropped about 10% in September compared with a year ago. The index fell to all-time lows earlier this year.The Conference Board said consumer confidence hit its lowest level since 2014 in September. Confidence rebounded in October, which the Conference Board attributed in part to easing gas prices.— Alex HarringSenate seats previously thought out of reach for both parties are now in playDemocrats are competing for Senate seats in traditionally red states like Kansas, Mississippi and South Carolina and Texas where GOP candidate quality and Trump's low favorability have hampered Republicans. Meanwhile, the GOP looks competitive in New Hampshire and Minnesota, where Democrats tend to dominate but are in tight races against formidable Republican opponents.— Justin PappVoters face 'low hire, low fire' job marketA voter casts their ballot at a polling location inside the Guilford County Agricultural Center on the final day of early voting in the midterm election in Greensboro, North Carolina, US, on Saturday, Oct. 31, 2026. Al Drago | Bloomberg | Getty ImagesEconomists and monetary policymakers have largely described today's job market as stable but not booming, setting the backdrop for today's elections.The unemployment rate in September came in at 4.2%, down from 4.4% a year prior. Jobless claims in recent weeks have fallen to around their lowest since the 1960s.Still, there are some worrying signs beneath the surface. For instance, the number of people classified as long-term unemployed — or for at least 27 weeks out a job — has surged this year. That's a feature of what many economists have described as a "low-hire, low-fire" job market, in which companies are reluctant to both lay off staff and bring on new employees.Average hourly earnings rose 3% in September compared with a year prior, marking the slowest 12-month increase since 2021. But consumer prices climbed 3.7% in the same period, meaning shoppers had less purchasing power compared with a year ago.— Alex HarringA referendum on TrumpU.S. President Donald Trump delivers remarks at the Lincoln Memorial Reflecting Pool on November 02, 2026 in Washington, DC. Finn Gomez | Getty Images News | Getty ImagesTuesday's elections could be a referendum on Trump, whose policies have angered voters and weighed down Republicans. Losses in the House or Senate, or both, could derail his legislative agenda as he enters his final two years in office. And a poor GOP performance would likely usher in an era of intense congressional oversight aimed at Trump, his associates and companies that have cozied up to the administration in the last two years.— Justin Papp