NEW YORK, November 2, 2026 — Stock futures climbed Sunday evening as Wall Street braces for a pivotal week. The S&P 500, Nasdaq 100, and Dow futures all rose, with the Nasdaq leading after a bruising week for AI and chip stocks.
The numbers tell the story: AI and semiconductor giants have shed $5 trillion in market value since October 6, while the rest of the 625 largest U.S. stocks gained $1.3 trillion. That’s the figure that matters as investors eye a crowded calendar.
Earnings in Focus: Apple and Palantir
Apple’s earnings report Monday will spotlight iPhone 18 sales. The tech titan, valued at $5.03 trillion, is the only “Magnificent Seven” stock outpacing the S&P 500 this year, up 27% versus the index’s 11% gain. Palantir also reports Monday, adding to the tech focus.
Midterms and Jobs Data: Uncertainty Looms
Tuesday’s midterm elections could shift Congress, injecting volatility. Investors will note the potential impact on economic policy. Jobs data follows, with the JOLTS report Tuesday, weekly claims Thursday, and the October employment report Friday. These releases will shape Fed rate hike expectations.
Oil Prices and Broader Markets
Oil prices topped $100 per barrel, driven by the Iran conflict and OPEC+ decisions. West Texas Intermediate crude opened lower Sunday after Friday’s $104 close. Historical trends show the S&P 500 has risen every year from midterm October to June since 1950, though tech’s struggles may complicate this pattern.
The bottom line? Markets are poised for movement as earnings, elections, and economic data collide. Investors will watch closely, balancing historical trends with current uncertainties.
Sources
- Several key employment reports and more corporate earnings updates will fill out a busy week
- Stock Futures Rise Ahead of Key Earnings Reports and Midterm Elections – SSBCrack News
- Stock futures jump ahead of a monster week after a $5 trillion AI rout
- Wall Street week ahead: All eyes on US midterm elections, jobs data; earnings from Apple, AMD and Palantir also in focus | Stock Market News
- Stock futures jump ahead of a monster week after a $5 trillion AI rout
Photo: Acediscovery (CC BY 4.0)
