4 November 2026: US stocks were mixed on Tuesday as voters headed to the polls in the midterm elections. A rebound in semiconductor shares helped the Nasdaq and S&P 500 recover after three straight days of losses, while disappointing reactions to Apple and Palantir earnings weighed on the Dow.
Key points:
- The Nasdaq Composite rose roughly 0.6%–1.1% during the session as chip stocks bounced, while the Dow slipped.
- Nvidia and Micron Technology each gained more than 2%.
- Apple fell about 2% after beating forecasts but pointing to weaker profit margins.
- Palantir dropped about 4% as growth in new contracts slowed, extending its losing streak to six sessions.
- Investors were awaiting AMD’s quarterly results, due after the market close.
Chip stocks rebound after the AI sell-off
Semiconductor shares led the recovery after a rough patch for technology stocks. Both the S&P 500 and Nasdaq had fallen in each of the previous three sessions, and both indices posted a losing October amid concerns about how much companies are spending on artificial intelligence. On Tuesday, buyers returned to chipmakers, with Nvidia and Micron among the biggest gainers, according to CNBC and Yahoo Finance.
Apple and Palantir slide after earnings
Apple reported better-than-expected quarterly results on Monday evening, but investors focused on its warning about weakening profit margins, and the shares fell around 2% in midday trading. As one of the largest stocks in the Dow, Apple’s decline weighed on the index.
Palantir also beat expectations, but the shares fell about 4% because growth in new contracts slowed. The decline extended the stock’s losing streak to six sessions.
The bigger picture
- Midterm elections: markets were waiting for results that will decide control of Congress. Read what history says about stocks after midterms.
- Interest rates: the 10-year Treasury yield is near 5%, and the Fed may hike again in December. See Treasury yields edge toward 5%.
- AI spending: investors are watching whether heavy AI investment will pay off, which has made tech earnings especially important.
- Year to date: the S&P 500 was up about 10.8% this year as of 2 November.
What to watch next
- AMD’s earnings and guidance, which could move other chip stocks.
- The midterm election results and Wednesday’s market reaction.
- US inflation data and comments from Federal Reserve officials ahead of the December meeting.
Earnings season can bring large single-day moves in individual shares. If you trade stocks or stock CFDs around earnings, keep position sizes small and use a stop-loss.
Risk warning: The value of shares can go down as well as up, and you may get back less than you invest. Trading stock CFDs with leverage carries a high risk of rapid losses. Market moves described are based on intraday reports and may differ from final closing levels. This article is for information only and is not investment advice.
Sources
- Yahoo Finance: S&P 500, Nasdaq rise after 3 days of losses as chip stocks rebound
- CNBC: Nasdaq rebounds as chip stocks bounce, Dow dragged lower by Apple
- Invezz: Nasdaq rises as chip stocks rebound, while Apple and Palantir fall
- CNBC: Midterm elections and the stock market