The Consumer Staples Select Sector SPDR ETF (XLP) is up 1.52% in the pre-market session, mirroring a broader market rally. This upward movement is largely attributed to a surprising Democratic sweep in the U.S. midterm elections. After an initial negative reaction, U.S. stock futures reversed course and moved higher as investors assessed the potential implications of the new political landscape in Washington. This broad-based rally has lifted defensive sectors like consumer staples alongside the wider market.