S&P 500 Rises 0.36% on Nov 3, 2026 as Chip Stocks Rebound

Key takeaways

• The S&P 500 rose 27.52 points, or 0.36%, to 7,568.92 at the close (21:00 UTC) on Tuesday, Nov 3, 2026, ending a three-session losing run, according to Yahoo Finance, CNBC and the Associated Press.
• The Nasdaq Composite gained 0.83% to 25,372.01 as chip stocks rebounded, while the Dow Jones Industrial Average fell 197.26 points, or 0.38%, to 51,786.72, weighed down by Apple.
• Apple fell 1.90% to $331.90 after forecasting a lower profit margin for the December quarter; Nvidia rose 2.29% to $206.69, according to Yahoo Finance closing data.
• After the close, AMD reported third-quarter revenue of $13.4 billion and record Data Center revenue of $8.5 billion, up 97% from a year earlier, according to the company.
• The 10-year Treasury par yield rose to 4.950% from 4.910% after September job openings came in at 7.5 million, according to the US Treasury and the Bureau of Labor Statistics.

Session recap

Wall Street finished Election Day mixed. The S&P 500 closed up 0.36% at 7,568.92 and the Nasdaq added 0.83%, recovering part of the tech sell-off covered in the previous session's brief for Monday, Nov 2. The Dow slipped 0.38% and small caps edged up, with the Russell 2000 0.23% higher. The rally was narrow: most stocks in the S&P 500 fell, the Associated Press reported. For the wider picture, see Asian and global market closes.

Changes are measured against the Monday, Nov 2 close: 7,541.40 for the S&P 500, 25,164.36 for the Nasdaq, 51,983.98 for the Dow, 2,805.88 for the Russell 2000 and 21.15 for the VIX, according to Yahoo Finance. Treasury par yields are the official end-of-day curve, based on bid prices at about 15:30 New York time; the Treasury published Nov 2 levels of 4.59% for the 2-year and 4.91% for the 10-year. The Nasdaq traded between 25,246.63 and 25,474.46, and the VIX ranged from 20.29 to 21.91, according to Yahoo Finance.

What drove it

Chip stocks bounced back

Semiconductors led the rebound after a rough stretch driven by worries that AI-related shares had become too expensive, the Associated Press reported. Nvidia rose 2.29% to $206.69, according to Yahoo Finance closing data, and Broadcom gained 3.1%, AP said. Microsoft, Amazon and Meta, three of the biggest spenders on AI, each rose more than 2%, according to AP. In afternoon trading, information technology was the best-performing S&P 500 sector, up 1.4%, while materials fell 1.5% and consumer staples 1.3%, CNBC reported. The Nasdaq-100 closed at 28,180.26 and remained about 10% below its recent high, CNBC said.

Apple's margin outlook weighed on the Dow

Apple fell 1.90% to $331.90, according to Yahoo Finance, a day after reporting fiscal fourth-quarter results. AP reported that the quarter beat analysts' expectations, but Apple said it expects a lower profit margin in the final quarter of the year as AI data-center demand pushes up memory chip prices. CNBC also cited fiscal fourth-quarter iPad sales below estimates. Because the Dow is weighted by share price, Apple's drop had an outsized effect on the 30-stock index.

Earnings: AMD after the bell, Shopify and Palantir lower

AMD shares rose 3.65% to $483.90 in the regular session, according to Yahoo Finance, ahead of results released at 4:15 p.m. New York time (21:15 UTC). The company reported third-quarter revenue of $13.4 billion, up 45% from a year earlier, and non-GAAP diluted earnings of $2.09 a share. Data Center revenue reached a record $8.5 billion, up 97%. AMD guided fourth-quarter revenue to about $17 billion, plus or minus 3%, according to its release. Yahoo Finance reported that the shares rose more than 7% in after-hours trading.

Shopify fell 8.74% to $142.57, according to Yahoo Finance, after third-quarter revenue of $3.74 billion came in just below the $3.75 billion consensus, Yahoo Finance reported. Palantir fell 1.6% even though its profit beat expectations and US commercial revenue rose 148% from a year earlier, AP reported. DuPont rose 8.6% and Revvity 7.8% after results beat forecasts, according to AP. Coinbase rose 5.53% to $145.45 after a three-day slide of about 15%, according to Yahoo Finance data and CNBC.

Job openings lifted yields

The Bureau of Labor Statistics said job openings rose to 7.5 million in September from a revised 7.2 million in August. Hires rose to 5.4 million, quits climbed to 3.4 million and layoffs and discharges fell to 1.6 million. AP said the stronger-than-expected openings helped push the 10-year yield higher. Treasury data show both the 2-year and 10-year par yields rose on the day. Higher yields make future corporate profits worth less in today's money, which can pressure richly valued growth stocks. For background, see our 10-year Treasury yield explainer.

Oil extended Monday's slide

Front-month January Brent crude futures settled down 1.12% at $103.60 a barrel, and December WTI futures settled down 0.38% at $96.09, CNBC reported. AP reported that Brent swung widely, trading above $107 overnight and below $101 in the morning, amid uncertainty over the US conflict with Iran. The December Brent contract expired on Oct 30 under ICE Futures Europe rules, making January the active month.

Political & policy watch

• Midterm elections: Americans voted on Tuesday, Nov 3. Prediction markets favoured Democrats to gain control of Congress, according to Yahoo Finance and CNBC, and Yahoo Finance noted that some races may not be called on election night. Republicans held the Senate 53-47 going into the vote, Yahoo Finance reported. Bullquill's guide to when US midterm results arrive in Southeast Asian time covers the timing for Asian investors.
• Market views on the outcome: CNBC reported that some analysts said a Democratic sweep could weigh on AI stocks, while JPMorgan said Republican control of the Senate or both chambers could bring short-term gains. AP said some investors speculate that a Democratic Congress could bring more AI regulation, though President Trump could still veto legislation. Edward Jones analyst Brock Weimer noted that the S&P 500 has posted a positive return in the six months after every midterm since 1970, AP reported. Past patterns do not guarantee future results.
• Iran: Oil fell for a second day on hopes of talks to resolve the US-Iran conflict, Yahoo Finance reported. CNBC described the hopes as based on rumors; no agreement had been confirmed.
• Energy costs: US gasoline averaged $4.14 a gallon, according to AAA data cited by Yahoo Finance.

What to watch next

• Wednesday, Nov 4: the market's first full session after midterm results; Asian markets trade first.
• AMD: how the shares trade on Wednesday after results and a fourth-quarter revenue forecast of about $17 billion.
• Super Micro Computer: the first regular-session reaction on Wednesday to fiscal first-quarter results scheduled after the bell on Tuesday, Nov 3, according to Yahoo Finance.
• Friday, Nov 6: the BLS October employment report, according to Yahoo Finance.
• Tuesday, Nov 10: CoreWeave results after the bell, according to CNBC.
• Federal Reserve: whether the labor data change expectations for the Fed's December meeting.

Risk checklist for readers

• Narrow rallies can be fragile: the S&P 500 rose while most of its members fell, so check market breadth, not just the headline index.
• Election results can move futures, the dollar and Treasuries overnight, before the cash market opens.
• After-hours moves on earnings, such as AMD's, happen on thin volume and can change by the next regular session.
• The VIX near 21 means options traders expect above-average swings over the next 30 days; it measures expected volatility, not direction. See our VIX explainer.
• Job openings data from JOLTS are often revised; compare the first release with later BLS revisions.
• Oil prices can swing several dollars on unconfirmed geopolitical headlines; check official statements before drawing conclusions.

This article is for information only and is not investment advice.