AI Stocks Close
🔔 AI Stocks Close — Wednesday, November 4, 2026 at 2:15 PM
Closes: SPX 7,688.62 (+1.58%) · NDX 28,437.17 (+0.91%) · DJI 53,356.12 (+3.03%)
Day narrative: A monster post-midterm relief rally — Democrats swept both chambers, Trump accepted the results, and crude cratered more than 8% on hopes the Iran conflict de-escalates. But under the surface it was a violent rotation, not a melt-up: cyclicals, financials and consumer names ripped while the AI-infrastructure complex got sold again.
Sectors: Best Consumer Discretionary XLY (+4.24%), Financials XLF (+3.47%) · Worst Energy XLE (-4.71%); Semis SMH (-2.74%)
Movers:
• MSFT +6.72% — mega-cap software caught the regulatory-relief bid, best day in months
• AMZN +6.13% / AAPL +5.33% — consumer mega-caps led as oil collapsed and rate expectations eased
• MU -6.99% — worst name on the board; memory took the brunt of data-center capex anxiety
• ARM -5.11% — slid into its own after-the-bell print
• SMCI -5.73% — AI server names stayed in the penalty box
• ASML -3.60%, NVDA -3.12% — the whole semicap/accelerator chain leaked while the index rallied
After-hours / Earnings:
• QCOM closed +5.66% at $173.73, then reported a beat — $11.27B revenue vs. ~$10.79B expected, $3.00 adjusted EPS vs. $2.88 — and still fell about 4.7% to $165.56 AH. Tenth straight beat, and the tape didn't care; the Apple modem roll-off and soft guide did the damage.
• ARM results are landing right now ahead of the 5:00 PM ET call — shares already -2.16% AH at $187.99 going in.
• MU, NVDA, SMCI, AVGO, TSM all ticking modestly green in extended trade — a tentative bounce off the day's semi wreckage.
• IPO/funding watch: Anthropic is still pointed at a mid-November listing, with chatter the valuation settles nearer $1.5–1.6T versus the $2T floated earlier; Q3 revenue reportedly came in at $17B. OpenAI trimmed its round to roughly $20B at a $1.25T valuation, down from $1.4T, with about $11B committed and a Friday deadline. Neither trades publicly.
Watchlist:
• MU $795.30 (-6.99% day, +0.21% AH)
• NVDA $200.24 (-3.12% day, +0.15% AH)
• MSFT $556.00 (+6.72% day, -0.05% AH)
• GOOGL $289.02 (+3.21% day, +0.46% AH)
• META $629.71 (+1.40% day, +0.20% AH)
• AMZN $266.06 (+6.13% day, +0.03% AH)
• AAPL $349.59 (+5.33% day, +0.06% AH)
• AMD $488.82 (+1.02% day, +0.28% AH)
• TSLA $385.29 (-3.32% day, -0.09% AH)
• PLTR $171.63 (-2.15% day, +0.31% AH)
• ARM $192.15 (-5.11% day, -2.16% AH)
• SMCI $29.59 (-5.73% day, +0.47% AH)
• ORCL $123.79 (-1.90% day, +0.33% AH)
• SOUN $4.33 (+5.10% day, flat AH)
• IONQ $29.54 (-1.50% day, +1.05% AH)
• BBAI $2.57 (+1.38% day, -0.19% AH)
• AVGO $325.63 (-1.96% day, +0.47% AH)
• CRM $227.17 (+2.24% day, -0.08% AH)
• ADBE $248.43 (+0.93% day, -0.52% AH)
• IBM $254.33 (+1.72% day, +0.02% AH)
• SNOW $290.52 (-1.53% day, +0.20% AH)
• MDB $328.43 (-2.07% day, -0.02% AH)
• NET $266.64 (-2.55% day, -0.52% AH)
• CRWD $240.98 (-1.51% day, +0.22% AH)
• TSM $395.61 (-2.27% day, +0.10% AH)
• ASML $1,496.33 (-3.60% day, -0.02% AH)
Macro:
• Democrats took both the House and Senate; Trump publicly accepted the outcome, which removed the contested-election tail risk markets had been pricing
• WTI crude down more than 8% toward the low-$90s — VP Vance pinned GOP losses on Iran-war inflation, and traders read that as pressure to de-escalate
• 10-year Treasury yield eased to about 4.92%, down roughly 5 basis points
• Health insurers and clean energy rallied on expected policy shifts; CVS announced a plan to split into two public companies by the first half of 2028
Tomorrow: Initial jobless claims at 8:30 ET (197K expected vs. 194K), plus Q3 nonfarm productivity and unit labor costs. Fed speakers stack up — Barkin at 9:10 ET, Hammack in the morning (she dissented from the October hold), Logan at 7:00 PM ET. Earnings are heavy with roughly 493 names reporting: Cigna, ConocoPhillips, Celsius, Unity, Core Scientific, Shake Shack and Toyota among them.