Update: CNBC projects Democrats win Senate control; AP has Texas, Iowa, Kansas, Ohio flipping

This updates our 10:52 p.m. ET report and states only what has changed. We do not call races. Every call below belongs to the outlet named, and the times are the ones CNBC posted. They come from CNBC\'s live blog, last updated 12:34 a.m. ET, where the Associated Press supplies vote data and projections.

What changed since 10:52 p.m. ET

The Financial Times reached the same conclusion in its headline, "Democrats clinch majority in Senate as voters lash out at Trump\'s Republicans" (FT). We read only the headline, not the story, so that is a second outlet agreeing, not a second set of vote counts.

Two points of caution. First, Texas is now an AP projection per CNBC; at 10:52 p.m. we had it only as a lean. Second, we could not read Texas\'s own results page: the Secretary of State site returned a bot-check page, so Texas vote totals are not confirmed by us from the state. The Alaska Senate race, where polls close at 1 a.m. ET, and Nebraska\'s independent-challenger race had no projection in what we read.

Futures, from Yahoo Finance data

We measured each contract against its 3:55 p.m. ET Tuesday price using 5-minute bars through 12:30 a.m. ET Wednesday. This is not an official settlement comparison.

CNBC reported at 9:58 p.m. ET that S&P 500 futures were 1.1% lower and Nasdaq-100 futures 2% lower. Our measure uses a different baseline (the 3:55 p.m. price rather than CNBC\'s reference), so the two are not directly comparable, but the drop in our table is smaller. These are thin overnight markets and can move sharply on any headline.

What to watch at the open

• Whether the futures recovery holds: the cash market opens at 9:30 a.m. ET Wednesday. S&P 500 futures are roughly 4% below their October 6 peak in our chart data.
• Data-center and AI stocks: CNBC said some on Wall Street fear a large Democratic win means more restrictions on the AI buildout.
• Michigan, Maine, Florida, Alaska: they decide how large the Senate majority is, not who has it, if CNBC\'s Senate call holds.
• Gold: up about 1% in the same window, the one contract in our table moving the other way.

For a business owner, a projection changes no law tonight. Bills still need both chambers and the president\'s signature, so the practical effect comes through oversight, spending fights and tariff and tax debates in the months ahead. CNBC reported Trump posted that he "wasn\'t on the Ballot".

Sources: CNBC live coverage with Associated Press vote data and projections, and CNBC Election Desk ratings; Financial Times (headline only); Yahoo Finance futures data. Race calls are attributed to the outlet that made them and are not ours. Results are unofficial and change. This is market information, not investment advice.