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Wall Street closed mixed on Tuesday, pulled up by tech and industrial stocks. Investor sentiment remained cautious but selective, as uncertainty surrounding the U.S. midterm elections kept investors on the sidelines, while renewed strength in technology and semiconductor stocks offered some support. Two of the three benchmark indexes ended in the green while one ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 197.26 points, or 0.4%, to close at 51,786.72. Twenty-one components of the 30-stock index ended in negative territory, while nine ended in positive.
The tech-heavy Nasdaq Composite added 207.69 points, or 0.8%, to close at 25,372.01.
The S&P 500 gained 27.52 points, or 0.4%, to close at 7,568.92. Four of the benchmark index's 11 broad sectors closed in the green. The Technology Select Sector SPDR (XLK), the Industrials Select Sector SPDR (XLI) and the Communication Services Select Sector SPDR (XLC) advanced 1.3%, 1% and 0.9%, respectively, while the Materials Select Sector SPDR (XLB) declined 1.9%.
The fear gauge CBOE Volatility Index (VIX) fell 1.5% to 20.83. A total of 16.6 billion shares were traded on Tuesday, lower than the last 20-session average of 17.4 billion. Decliners outnumbered advancers by a 1.6-to-1 ratio on the S&P 500.
Chipmaker Stocks Rebound as Investors Return to AI Trade
Chipmaker stocks rallied on Wall Street on Tuesday as investors returned to artificial intelligence (AI)-related shares following a recent selloff. The Philadelphia Semiconductor Index, a key gauge of semiconductor stocks, advanced 3% during the session, supporting the Nasdaq Composite and the broader technology sector. The rebound came as investors sought opportunities in technology shares after concerns over escalating AI infrastructure spending and uncertain returns had weighed on market sentiment.
The rally also reflected bargain hunting following several sessions of losses. The Nasdaq-100 had closed more than 10% below its Oct. 6 record high on Monday, entering correction territory. This decline created opportunities for investors to purchase semiconductor shares at lower valuations.
Wall Street Takes Midterm Elections in Stride as Investors Await Results
U.S. midterm elections weighed on Wall Street on Tuesday, as investors largely remained focused on technology stocks and the potential implications of changing congressional control. However, investors largely refrained from making major election-driven bets ahead of the results.
The possibility of Democrats gaining control of the House, while the Senate remained competitive, added uncertainty around future fiscal policy, taxation, government spending and corporate regulation. A potential Democratic victory also raised concerns about greater scrutiny of AI companies and data-center investments. However, investors viewed the elections as an event that could remove a prolonged source of market uncertainty. Attention remained on the eventual congressional balance and its implications for corporate America.
Economic Data
Per the U.S. Census Bureau, Factory Orders for September increased 1.8% against a consensus of 1.1% for the period. The number for August was revised up to 0.3% from the previously reported 0.1%.
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Stock Market News for Nov 4, 2026
Wall Street closed mixed on Tuesday, pulled up by tech and industrial stocks. Investor sentiment remained cautious but selective, as uncertainty surrounding the U.S. midterm elections kept investors on the sidelines, while renewed strength in technology and semiconductor stocks offered some support. Two of the three benchmark indexes ended in the green while one ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 197.26 points, or 0.4%, to close at 51,786.72. Twenty-one components of the 30-stock index ended in negative territory, while nine ended in positive.
The tech-heavy Nasdaq Composite added 207.69 points, or 0.8%, to close at 25,372.01.
The S&P 500 gained 27.52 points, or 0.4%, to close at 7,568.92. Four of the benchmark index's 11 broad sectors closed in the green. The Technology Select Sector SPDR (XLK), the Industrials Select Sector SPDR (XLI) and the Communication Services Select Sector SPDR (XLC) advanced 1.3%, 1% and 0.9%, respectively, while the Materials Select Sector SPDR (XLB) declined 1.9%.
The fear gauge CBOE Volatility Index (VIX) fell 1.5% to 20.83. A total of 16.6 billion shares were traded on Tuesday, lower than the last 20-session average of 17.4 billion. Decliners outnumbered advancers by a 1.6-to-1 ratio on the S&P 500.
Chipmaker Stocks Rebound as Investors Return to AI Trade
Chipmaker stocks rallied on Wall Street on Tuesday as investors returned to artificial intelligence (AI)-related shares following a recent selloff. The Philadelphia Semiconductor Index, a key gauge of semiconductor stocks, advanced 3% during the session, supporting the Nasdaq Composite and the broader technology sector. The rebound came as investors sought opportunities in technology shares after concerns over escalating AI infrastructure spending and uncertain returns had weighed on market sentiment.
The rally also reflected bargain hunting following several sessions of losses. The Nasdaq-100 had closed more than 10% below its Oct. 6 record high on Monday, entering correction territory. This decline created opportunities for investors to purchase semiconductor shares at lower valuations.
Consequently, Broadcom Inc. (AVGO - Free Report) and NVIDIA Corporation (NVDA - Free Report) jumped 3.1% and 2.3%, respectively. While NVDA currently carries a Zacks Rank #2 (Buy), AVGO has a #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Wall Street Takes Midterm Elections in Stride as Investors Await Results
U.S. midterm elections weighed on Wall Street on Tuesday, as investors largely remained focused on technology stocks and the potential implications of changing congressional control. However, investors largely refrained from making major election-driven bets ahead of the results.
The possibility of Democrats gaining control of the House, while the Senate remained competitive, added uncertainty around future fiscal policy, taxation, government spending and corporate regulation. A potential Democratic victory also raised concerns about greater scrutiny of AI companies and data-center investments. However, investors viewed the elections as an event that could remove a prolonged source of market uncertainty. Attention remained on the eventual congressional balance and its implications for corporate America.
Economic Data
Per the U.S. Census Bureau, Factory Orders for September increased 1.8% against a consensus of 1.1% for the period. The number for August was revised up to 0.3% from the previously reported 0.1%.