A Wall Street Record, and Why India Cut 130 Million Names From Its Voter Roll

October 7, 2026

AI Summary

5 min read

A Wall Street Record, and Why India Cut 130 Million Names From Its Voter Roll

The S&P 500 hit an all-time high yesterday, pushing past a series of records it set earlier this year and rising more than 14% since January. But beneath that headline number, the stock market tells a more complicated story—one that reflects both the war in Iran and the AI boom, while smaller companies tied to the broader economy are actually falling.

The Two Sectors Driving the Market

Wall Street's surge comes down to energy and AI. On the energy side, the war in Iran has pushed oil prices sharply higher, and energy companies have been able to sell supplies from outside the Middle East at those elevated prices, boosting revenues. On the AI side, investors remain fully committed to Silicon Valley giants racing forward with the technology. As Joe Rennison, who covers Wall Street for the Times, put it: "These are the biggest companies in the stock market, by far the biggest companies in the stock market. So when they're growing, it makes sense that the stock market is also rising because they are the driving force of the stock market."

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What you'll learn

1 (00:36) **Wall Street Hits a New Record High** - The S&P 500 reaches an all-time peak, up over 14% since January.
2 (03:05) **Midterm Election Money Race** - A top Democratic super PAC has raised record-breaking funds, but Republicans still hold a massive financial advantage.
3 (03:44) **New Questions Over Trump’s Use of Taxpayer Funds for Ads** - A controversy erupts over publicly funded ads promoting the president, with a new ad featuring top administration officials.
4 (05:07) **India Removes 130 Million Names From Voter Roll** - A massive purge of the electoral list sparks protests and accusations of political targeting.
5 (06:57) **The Global Race to Decode Cat and Dog Food Preferences** - Pet food companies are investing heavily in research to understand what animals actually want to eat.
6 Standout Quotes
7 "The stock market reflects the profits of the biggest companies in the country, and the profits of the biggest companies in the country are still very strong." - Joe Rennison, on why the market is at a record high amid global turmoil.

+ Full timestamped outline available in the app

Show Notes

Plus, the cats who taste-test kibble.

Here’s what we’re covering:

Stocks Reach New High as Investors Look Past Rising Rates, by Joe Rennison
Top Democratic Super PAC Raised Record Amount in Third Quarter, by Shane Goldmacher
Trump Does Not Plan to Reimburse Taxpayers for Promotional Ads, by Shane Goldmacher and Maggie Haberman
India Cut 130 Million From Voter Roll, Fueling Protests Against Modi, by Mujib Mashal, Pragati K.B. and Hari Kumar
These Taste Testers Have Four Legs and Picky Palates, by Jenny Gross

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