S and P 500 and Nasdaq Snap Three Day Losing Streak as Chip Stocks Rally on Election Day

The S and P 500 and the Nasdaq Composite closed higher on Tuesday, November 3, 2026, for the first time in four sessions, while the Dow Jones Industrial Average slipped. The S and P 500 gained 30.92 points, or 0.4 percent, to close at 7,572.32. The Nasdaq Composite jumped 206.04 points, or 0.8 percent, to 25,370.41. The Dow sank 194.41 points, or 0.4 percent, to 51,789.57. Baystreet published the same closing levels, and Investopedia reported the same moves in rounded form.

End of a three day slide

The rebound ended a three day losing run for the S and P 500 and the Nasdaq. Major indexes had come under pressure in recent sessions amid a sell off in technology stocks that was sparked in part by disappointing earnings reports, Investopedia reported. Trading on Tuesday took place as Americans voted in the midterm elections, and investors waited for results that could shift the balance of power in Congress.

Chip stocks lead the rebound

Chip stocks led the rebound. Shares of Advanced Micro Devices rose nearly 4 percent ahead of the company quarterly results, which were due after the closing bell. AMD had lost nearly 20 percent of its value over the previous three sessions. Nvidia climbed 2 percent and Broadcom climbed 3 percent. Intel gained 1 percent, after falling 37 percent during its own three day slump. The iShares Semiconductor ETF, known by its ticker SOXX, added 2.5 percent.

Apple and Palantir fall

Two big names went the other way. Apple, a Dow component, fell 2 percent after the company reported better than expected quarterly numbers on Monday night but pointed to weakening margins. Palantir finished down nearly 2 percent, even though the data analytics software maker topped Wall Street estimates with its results and issued a strong forecast. The falls in Apple and Palantir helped hold back the Dow on a day when the broader S and P 500 and the Nasdaq both advanced.

Oil, gold, Bitcoin and yields

Oil steadied after a sharp fall on Monday. West Texas Intermediate crude futures were up 0.3 percent at 96.75 dollars a barrel in recent trading, after the United States benchmark plunged 8 percent on Monday amid hopes that the United States would seek a diplomatic solution to the Iran war rather than launch new strikes after the midterms, Investopedia reported. Gold futures fell 1 percent to 3,930 dollars an ounce, following a surge on Monday, after the metal on Friday hit its lowest level since September of last year. Bitcoin was trading at 77,800 dollars, up from an overnight low of around 76,400 dollars. The yield on the 10 year Treasury note rose to 4.97 percent from 4.91 percent at Monday close. That yield affects the interest rates charged on many kinds of consumer loans.

What comes next

Market participants braced for the midterm election results amid uncertainty about what a possible shift in the balance of power in Congress could mean for government spending, regulation and more, Investopedia reported. Results were due after polls closed on Tuesday night, and earnings from AMD after the bell gave chip investors a second test on the same evening.