10 things you need to know today: November 5, 2014

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(Image credit: (AP Photo/Timothy D. Easley))

1. Republicans retake the Senate, gain seats in the House

After a long and arduous campaign season, it was a good night for Republicans. The GOP picked up Senate seats in North Carolina, Colorado, Iowa, West Virginia, Arkansas, Montana and South Dakota, giving the party it's first Senate majority in eight years. Republicans also picked up at least nine seats in the House and won several hotly contested governors races, including in Florida and Colorado. Presumptive Senate Majority Leader Mitch McConnell, who ended up soundly defeating challenger Alison Lundergan Grimes, hinted at compromise, saying "Just because we have a two-party system doesn't mean we have to be in perpetual conflict."

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Laura Colarusso is a freelance journalist based in Boston. She has previously written for Newsweek, The Boston Globe, the Washington Monthly and The Daily Beast.