US stocks were mixed as Americans went to the polls for the midterm elections and braced for more AI industry earnings from Advanced Micro Devices (AMD).
The Dow Jones Industrial Average (^DJI) fell 0.3%, while those on the S&P 500 (^GSPC) rose 0.5%. The tech-heavy Nasdaq Composite (^IXIC) advanced by 0.8% following a turbulent day for chip stocks.
But before then, AMD will report earnings after the closing bell, giving investors another glimpse of AI demand at a precarious time for the artificial intelligence trade. As Intel’s (INTC) stock demonstrated last week, the market’s reaction is likely to depend as much on Q4 guidance as on the company’s top- and bottom-line results in the most recent quarter.
Apple (AAPL) stock fell in early trading following its own earnings report, which showed several bright spots (iPhone sales) but also some misses (Greater China revenue). Palantir (PLTR) stock also fell post-earnings despite results that beat expectations.
While earnings season continues apace, the Labor Department release its monthly Job Openings and Labor Turnover Survey (JOLTS) report, showing openings and hiring changed little in September continuing the labor market’s “low hire, low fire” trend.
LIVE11 updates
Job openings and hiring edged higher in September, but it’s still a ‘low hire, low fire’ market
Job openings and hiring changed little in September, the Labor Department’s monthly Job Openings and Labor Turnover Survey showed, as the “low hire, low fire” labor market continued, Yahoo Finance’s Claire Boston reports:
There were 7.5 million job openings in September, from a revised 7.2 million a month earlier, the report showed. The hiring rate improved slightly to 3.4%, up from 3.3% in September.
A fuller look at the job market will be released on Friday, when the Bureau of Labor Statistics publishes its monthly payrolls report for October.
Chip stocks are bouncing back from a fresh bear market as Wall Street’s safe havens slip
Monday’s close left chip stocks in a fresh bear market, below their summer lows and a key technical level. Tuesday, they’re bouncing back like they want to make the bears regret it, Yahoo Finance Jared Blikre reports:
The PHLX Semiconductor Index (^SOX) finished Nov. 2 about 22% below its Oct. 6 high, its second bear market since June. It was also the index’s second straight close below its 200-day moving average, a line it hadn’t closed under since June 2025, and its lowest close since April.
Nearly every chip and storage stock in the S&P 500 rose in early trading Tuesday, led by memory and chip-equipment names, and the index climbed back above its July 29 low. If chips can hold that ground, Monday’s breakdown starts to look like a bear trap — a break below a key level that quickly reverses, catching traders who bet on more losses.
CrowdStrike says it will buy two AI cybersecurity startups. Shares rise.
CrowdStrike (CRWD) said Tuesday that it has agreed to buy two AI security startups, Yahoo Finance’s Ines Ferréreports:
CrowdStrike said it has signed an agreement to acquire Fiddler AI, a startup that develops tools that help companies track their AI systems.
The company also announced an agreement to acquire Dreadnode, a startup that develops tools to test AI systems for security vulnerabilities. CrowdStrike said the technology will allow its Falcon platform to continuously scan AI models, applications, and agents for potential security weaknesses before they are deployed.
The combined purchase price for both is $495 million, according to the Wall Street Journal. Shares of the cybersecurity company gained more than 2% in early trading.
Gas and diesel prices hit record Election Day highs
Gas and diesel prices are the highest they have ever been on any Election Day in US history, according to Patrick De Haan, GasBuddy head of petroleum analysis.
The national average price for a gallon of gasoline is now $4.14, while a gallon of diesel is $6.29, according to AAA.
Higher prices, especially for fuel, are a key source of voter frustration heading into the polls on Tuesday.
Futures on Brent crude (BZ=F), the international benchmark, fell roughly 1% to trade around $104 per barrel Tuesday morning, whereas US WTI crude (CL=F) broke the $100 mark on Monday and is now trading around $96, down 6% from five days ago.
Brent crude ended October at a six-month high amid concerns that the conflict will reescalate following the midterm elections. The pullback from that peak comes as hopes return to the market over talks of a potential ceasefire between the US and Iran.
US stocks mixed as midterm results loom
US stocks opened mixed Tuesday as investors awaited midterm election results and more AI-related earnings to come.
The Dow Jones Industrial Average (^DJI) fell 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) advanced by 0.3% following a turbulent day for chip stocks. Meanwhile, the S&P 500 (^GSPC) was up slightly.
51,869.78 -114.20 (-0.22%)
As of 11:18:54 AM EST. Market Open.
^DJI^GSPC ^IXIC
Investors will watch election results Tuesday evening for potential shifts in policy around areas including housing, pharmaceuticals, and AI infrastructure. Before then, Advanced Micro Devices (AMD) reports after the bell, offering another read on AI demand after a sharp sell-off in chip stocks.
Apple (AAPL) and Palantir (PLTR) also traded lower following their earnings reports, along with pharmaceutical maker Pfizer (PFE) and e-commerce platform Shopify (SHOP).
Shopify stock tanks as Q3 revenue, total order value miss Wall Street estimates
Shopify (SHOP) stock plunged 15% in premarket trading on Tuesday after reporting third quarter results that missed the mark on several key metrics.
The cloud-based e-commerce platform’s Q3 revenue of $3.74 billion came in just shy of consensus estimates of $3.75 billion for the first time since 2022, according to Bloomberg data. Subscription revenue for the quarter of $836 million also missed Wall Street expectations of $850.2 million, raising concerns about growth in its main recurring-revenue business.
Gross merchandise volume, or the total dollar value of orders sold through Shopify’s platform, was $119.15 billion, also falling short of estimates of $120.08 billion.
Shopify’s adjusted earnings per share of $0.49 topped estimates of $0.48.
“It’s been a pretty hectic process,” Zhao said of the aftermath of the hack. “But the good thing is right now the withdrawals have been restored, the systems back to normal. People are free to use the platform without any issues now. And then all user funds are covered. The users did not suffer any loss.”
Sozzi writes that Binance moved swiftly to stabilize the situation by guaranteeing full customer restitution, deploying corporate treasury reserves, Secure Asset Fund for Users (SAFU) capital, and insurance funds to replenish user balances.
“There’s no 100% security,” CZ added. “So when you run a platform, especially a crypto platform the possibility is always there. I did not think it was going to be this big of magnitude, probably not.”
Prediction markets vs. polls: Election forecasting industry faces midterm test
Yahoo Finance’s Ben Werschkul reports:
Prediction markets and pollsters both say Democrats are favored to take both the US House and Senate on Tuesday. But prediction markets are a little less certain about it, especially on the Senate side.
That’s setting up what could be another chapter in the burgeoning rivalry between prediction markets and polls following 2024’s closely watched results. The upper chamber is where the differences are most evident.
A small but consistent gap has been evident for months in the odds of Democrats taking control of the Senate. The gap has averaged about 7.4 percentage points since Sept. 1, according to a Yahoo Finance analysis
It sat at 7.2 percentage points on Monday, with three prediction markets placing a 73.1% chance of Democrats taking control while two polling-based models suggested the chances are higher at 80.3%.
It’s not easy forking over more than $1,000 for a new iPhone every couple of years. But Apple (AAPL) has proved yet again that complaining about prices isn’t the same thing as being unwilling to make the purchase.
The company reported its quarter on Monday after the bell, posting revenue that grew 12% last quarter and beating Wall Street’s expectations. The company also beat on earnings per share.
Apple’s muscular iPhone sales are a microcosm of one of the major forces that have powered the economy. Though people may be furious with rising prices, the indefatigable American consumer continues to tap-to-pay through the rage.
A woman uses the new foldable iPhone Duo, on its launch day at an Apple store, in Berlin, Germany, October 23, 2026. REUTERS/Annegret Hilse ·Reuters / REUTERS
Some highlights from Palantir’s earnings call on Monday night
Palantir’s (PLTR) third quarter revenue and profits beat Wall Street estimates, and the company raised its full-year revenue outlook, Yahoo Finance’s Ines Ferré reported on Monday.
In another milestone, the company’s US commercial business surpassed its US government sales for the first time ever.
“We’ve gone from being the most attractive person in the physics department to being the captain of the football team,” Palantir CEO Alex Karp said during the earnings call.
Good morning. Here’s what’s happening today.
Economic data: JOLTS job openings, September (7.1 million expected, 7.09 million prior); JOLTS quits level, September (3.09 million expected, 3.06 million prior); JOLTS layoffs level, September (1.66 million expected, 1.64 million prior); Factory orders, September (+1.1% expected, +0.1% prior)
Earnings calendar: Advanced Micro Devices (AMD), Amgen (AMGN), Arista Networks (ANET), Shopify (SHOP), Pfizer (PFE), Eaton Corporation (ETN), Marathon Petroleum Corporation (MPC), Suncor Energy (SU), Energy Transfer (ET), Ferrari N.V. (RACE), Apollo Global Management (APO), Thomson Reuters (TRI), Keurig Dr Pepper (KDP), Block (XYZ), Yum! Brands (YUM), Sysco (SYY)
Catch up on some top stories you might have missed overnight:
