Traders work at the New York Stock Exchange on Nov. 2, 2026. <\/p>\n
NYSE<\/p>\n
The Nasdaq Composite<\/a> rose on Tuesday as investors moved back into key technology stocks after recent pressure<\/a> and geared up for U.S. midterm election results<\/a>.<\/p>\n The tech-heavy index jumped 1.1%, recouping some of its latest losses. The Nasdaq-100<\/a> also rose 0.9% but still traded in correction territory, still down about 10% from its recent high. The S&P 500<\/a> climbed 0.6%, while the Dow Jones Industrial Average<\/a> traded down 100 points, or 0.2%, weighed down by Apple<\/a> shares.<\/p>\n Apple fell almost 2% after the iPhone maker issued<\/a> a disappointing margin forecast late Monday and iPad sales in the fiscal fourth-quarter missed the Street’s estimates.<\/p>\n Conversely, shares of chipmakers saw gains. Advanced Micro Devices<\/a> \u2014 which releases its third-quarter results after the bell \u2014 gained 4%, while Broadcom<\/a> rose more than 3% and Micron Technology<\/a>, Nvidia<\/a> and Intel<\/a> each gained nearly 3%.<\/p>\n Tuesday’s advance marks a reversal from the pullback seen Monday, which sent the Nasdaq down more than 1% and extended a recent retreat in the Nasdaq Composite and S&P 500 to a third day. <\/p>\n While semiconductor makers \u2014 and others tied to artificial intelligence \u2014 showed signs of recovery Tuesday, Shawn Snyder of Potomac Fund Management believes the market is not out of the woods.<\/p>\n “The concerns about the cost of capital and the level of debt financing necessary [are] going to persist for quite some time,” the economic strategist told CNBC. But the trade that relies on the artificial intelligence buildout could be getting close to oversold territory, he added, saying that “maybe there’s a little bit more downside, 4% or 5%, but eventually, if there’s not a recession associated with these drawdowns, normally that’s kind of where it stops.”<\/p>\n Oil prices, meanwhile, turned lower<\/a> on speculation there might be progress in U.S.-Iran negotiations. Brent crude<\/a> was last down almost 1% at about $104 per barrel. West Texas Intermediate futures<\/a> was little changed at around $96 per barrel.<\/p>\n Election Day<\/p>\n Investors are also focused on the midterm elections<\/a> Tuesday, which will decide which party controls the House and Senate starting in January. Prediction market traders see a nearly 75% likelihood of Democrats taking the Senate<\/a>.<\/p>\n A sweep of the House and Senate by Democrats<\/a> could weigh on the broader market<\/a> on Wednesday \u2014 and spark a sell-off in artificial intelligence stocks especially \u2014 if investors haven’t already positioned for that outcome. If Republicans keep control of the Senate or both chambers, the market may see short-term gains, JPMorgan said this week.<\/p>\n Even with President Donald Trump<\/a> in the White House, a victory by Democrats in either the House or Senate could shape investigations and oversight<\/a> in Washington \u2014 key for industries including defense, AI and healthcare.<\/p>\n Once the elections are over, it’s possible the market may still move higher regardless of the outcome, according to Snyder at Potomac Fund. <\/p>\n “You’re looking at an AI trade that’s already taken a hit,” he said. “That, combined with the idea that the uncertainty from the midterm fades, probably argues for relief rally no matter what.”<\/p>\n Correction: A prior version of this story had an incorrect forecast for Apple’s first-quarter guidance.<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work at the New York Stock Exchange on Nov. 2, 2026. NYSE The Nasdaq Composite rose on…\n","protected":false},"author":2,"featured_media":904700,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[338314,377931,2473,11623,1246,116,37246,28,122,1072,12,63284,120,18221,3138,8070,124435,5886,214220,216735,214219,154868,7174,221015,233798,189174,112,49545,5239,63286,5099,121,3487,2474,1539,5243,63285,117,92327,1866,17760,114,23681,13951,3998,378593,147571,21,221014,124084],"class_list":["post-904699","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-lco27f","tag-lco27j","tag-advanced-micro-devices-inc","tag-apple-inc","tag-australia","tag-breaking-news-markets","tag-broadcom-inc","tag-business","tag-business-news","tag-donald-j-trump","tag-donald-trump","tag-dow-jones-fut-sep25","tag-dow-jones-industrial-average","tag-eaton-corporation-plc","tag-government-and-politics","tag-hang-seng-index","tag-ice-brent-crude-oct25","tag-intel-corp","tag-invesco-qqq-trust","tag-ishares-msci-taiwan-etf","tag-ishares-semiconductor-etf","tag-john-ternus","tag-kospi-index","tag-lp","tag-lumentum-holdings-inc","tag-marathon-petroleum-corp","tag-markets","tag-marvell-technology-inc","tag-micron-technology-inc","tag-nasdaq-100-fut-sep25","tag-nasdaq-100-index","tag-nasdaq-composite","tag-nvidia-corp","tag-oracle-corp","tag-palantir-technologies-inc","tag-pfizer-inc","tag-sp-500-fut-sep25","tag-sp-500-index","tag-shopify-inc","tag-south-korea","tag-spdr-sp-500-etf-trust","tag-stock-markets","tag-super-micro-computer-inc","tag-suppress-zephr","tag-taiwan","tag-taiwan-weighted-index","tag-technology-select-sector-spdr-fund","tag-united-states","tag-united-states-oil-fund","tag-wti-crude-sep25"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/904699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=904699"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/904699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/904700"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=904699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=904699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=904699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}