Stocks End Mixed on Election Day as Chip Rebound Lifts Nasdaq

Stocks ended mixed on Election Day, November 3, with the S&P 500 and the Nasdaq Composite snapping three-day losing streaks while the Dow Jones Industrial Average fell. No election results were known at the closing bell, and investors awaited overnight vote counts.

The Dow fell 0.38 percent to 51,786.72. The S&P 500 rose 0.36 percent to 7,568.92, and the Nasdaq Composite rose 0.83 percent to 25,372.01. The Russell 2000 index of small companies rose 0.27 percent to 2,813.48. All figures are closing levels for November 3, 2026.

Chip stocks led the rebound. The iShares Semiconductor ETF, known as SOXX, rose 2.5 percent. Micron Technology rose 2.5 percent, Nvidia rose 2.3 percent, Broadcom rose 3.1 percent and Intel rose nearly 1 percent. Advanced Micro Devices rose 3.7 percent in the regular session ahead of its earnings report after the close.

The rebound came after a sharp slide. The Nasdaq 100 index had fallen more than 10 percent from its record high at the previous close, putting it in correction territory. Selling in recent sessions reflected concern that heavy spending on artificial intelligence infrastructure was not yet producing matching returns.

Apple fell nearly 2 percent and weighed on the Dow. The company said a day earlier that rising memory chip prices would pressure profit margins in the holiday shopping quarter. Palantir fell nearly 2 percent despite beating expectations and raising its outlook, as investors focused on slower growth in new United States contracts. Shopify fell nearly 9 percent after quarterly revenue missed expectations.

The yield on the 10-year Treasury note rose to 4.97 percent from 4.91 percent at the previous close. The 10-year yield is a benchmark for mortgage rates and other borrowing costs, so a rise tends to increase borrowing costs for companies and households. The Treasury Department is scheduled to announce its quarterly borrowing plans on November 4.

Oil prices fell at settlement. Brent crude settled at 103.60 dollars a barrel, down 1.1 percent, and West Texas Intermediate settled at 96.09 dollars a barrel, down 0.4 percent, according to The Wall Street Journal. Oil had fallen more than 7 percent on Monday on hopes for diplomatic progress between the United States and Iran, then rose during the day on reports of a United States strike on Iran’s Qeshm Island and Iranian remarks that talks were going badly, before falling back by settlement.

In the midterm elections, all 435 seats in the House of Representatives and 35 Senate seats were at stake. Reuters reported that polls pointed to a Democratic edge in the House with the Senate a close contest. What the results will mean for government spending, regulation and oversight of artificial intelligence infrastructure will become clearer as counting proceeds.

After the close, AMD reported adjusted earnings of 2.09 dollars a share on revenue of 13.4 billion dollars for the third quarter, Barron’s reported, beating market expectations of 1.95 dollars a share and 13.1 billion dollars in revenue. AMD forecast fourth-quarter revenue of about 17 billion dollars, and its shares rose nearly 7 percent in after-hours trading.