Democrats' Midterm Sweep Lifts Stock Futures in the Stock Market Today, November 4
Stock futures erased an overnight drop and jumped before Wednesday's open as Democrats won both the House and the Senate, letting investors look past the political risk, CNBC reported. At 6:25 a.m. ET, Dow futures were up 724 points, or 1.4%, as solar and health insurer stocks rose and Tesla fell.
The short answer. Stock futures fell overnight as the midterm results came in, then rose as the Democrats' clear win let investors look past the political risk, CNBC reported. The vote reached beyond stock owners too, as Treasury yields, which help set loan rates, fell and gold rose, CNBC reported. Company results drove the biggest single moves, from Ouster's 50% revenue growth to Amdocs' forecast of lower revenue.
The market before the open, Wednesday morning
Every company reporting the same week, with its date and time, is in StockTitan's Earnings Calendar for the Week of November 2, 2026.
On this page
Live updates
The newest update comes first. Each one says what changed in the market's story, with the time it was written.
6:42 a.m. ET
Stock futures turn higher as Democrats win both houses of Congress
The overnight drop has turned into a rally. Stock futures fell hard overnight, then climbed as the Democrats' clear win let investors look past the political risk, CNBC reported. Worries eased further after President Trump said he was willing to accept the results. By 6:25 a.m. ET, S&P 500 futures were up 1%, and so were Nasdaq-100 futures.
The vote is sorting stocks into winners and losers. Solar and health insurer shares are rising, while Tesla and SpaceX fall, CNBC reported. CVS Health said this morning that it plans to split into two companies (CVS separation release).
Why are stock futures up today
The election ended with a clear result, and the President said he would work with the winners, CNBC reported. That eased the fear of a long fight over the vote. Worry about limits on AI data centers remained.
Tuesday was the midterm election. Democrats took control of Congress, winning majorities in both the House and the Senate, CNBC reported. That result rests on projections by The Associated Press, which CNBC cited. Democrats also won key governor races, CNBC reported. In Texas, Democrat Gina Hinojosa led Republican Greg Abbott overnight, and CNBC listed the race among the Democratic wins; the official count is still to come.
At first, futures fell hard. Futures are contracts that trade overnight and show where stocks may open. Nasdaq-100 futures hit 27,615.75, their lowest since July 30, CNBC reported. Investors had worried that a Democratic sweep could hurt the companies building AI data centers, CNBC said.
Then the mood turned. Wall Street had also feared that no clear winner would emerge. Those worries eased after Trump said he was willing to accept the results and work with Democrats, CNBC reported. He told The Wall Street Journal that he thinks he will work with the Democrats and get along very well with them, CNBC reported.
The swing was large for one night. Nasdaq-100 futures climbed back to 28,545.50, about 3.4% above that low. Andrew Slimmon of Morgan Stanley Investment Management told CNBC the result means gridlock, when a split government passes few new laws. Markets like gridlock more than one party with too much power, he said.
Funds that track the indexes also rose before the open. At 6:32 a.m. ET, the SPY fund, which tracks the S&P 500, was up 1.16% from Tuesday's close. The DIA fund, which tracks the Dow, was up 1.56% at 6:30 a.m. ET.
Other markets moved with the vote. Treasury yields fell and the dollar slipped, CNBC reported on its live page updated at 6:25 a.m. ET. Gold rose 2.93% by 5:05 a.m. ET, and silver jumped 4.44%, according to CNBC.
Overseas, the fear lasted longer. Asian chip stocks tumbled on worries about limits on AI data centers, CNBC reported. Japan's Nikkei 225 closed 1.42% lower. In Europe, the Stoxx 600 rose 0.44% in early trading, CNBC said. On Tuesday, chip stocks had lifted the Nasdaq, as StockTitan's November 3 market coverage reported.
Which stocks are moving on the midterm election results
Solar companies rose on hopes of a change in energy policy, and health insurers rose too, CNBC reported. Tesla, SpaceX, CoreWeave and Trump Media fell.
Solar stocks led the gains. First Solar was up 8.55% at 6:34 a.m. ET, StockTitan's real-time data shows. Sunrun, which puts solar panels on homes, and Plug Power, which makes hydrogen fuel cells, rose too. CNBC tied the rally in clean energy stocks to expectations of a policy shift.
Health insurers also rose after Democrats took control of the House and Senate, CNBC reported. Centene was up 5.22% at 6:32 a.m. ET, StockTitan's real-time data shows, and CNBC reported Molina Healthcare up 6.3%.
Elon Musk's companies fell. SpaceX was down 4.86% and Tesla 4.55% at 6:34 a.m. ET. CNBC linked the drop in SpaceX to the Texas governor race, where Hinojosa led overnight. Hinojosa has called for an immediate stop to data centers in Texas, CNBC reported. Texas holds about 27% of US data center power capacity, Wells Fargo estimates, according to CNBC.
AI cloud stocks slipped as well. CoreWeave, which rents computing power to AI companies, was down 3.35% at 6:34 a.m. ET. Makers of AI data center gear rose on their own results, as the movers section below shows. Trump Media was down 6.89% at 6:35 a.m. ET, after CNBC's Election Desk projected that Democrats would win the House, CNBC reported. Prison operators and defense companies also fell, according to CNBC.
Most of the biggest tech companies held up. Amazon was up 1.1% and Alphabet down 0.4%, CNBC reported.
Is CVS splitting into two companies
Yes. CVS Health plans to split into a health benefits company and a drugstore company, both traded on the stock market, by the first half of 2028. It also raised its profit forecast for 2026.
CVS announced the plan this morning, after The Wall Street Journal reported it on Tuesday, according to CNBC. CVS says it intends to separate into two independent, publicly traded companies. One company keeps the CVS Health name for now. It holds Aetna, the health insurer, and CVS Caremark, which manages drug benefits for employers and health plans. CVS Specialty, Oak Street Health and Signify Health go with it (CVS separation release).
The other company, CVS Pharmacy, holds about 9,000 drugstores, the mail pharmacy and MinuteClinic. Shareholders would own shares in both, and CVS intends the split to be tax free for them. Chief executive David Joyner would lead the health company, and Prem Shah would run CVS Pharmacy.
CVS also raised its 2026 forecast. It raised its forecast for adjusted earnings, a measure that leaves out some items. It now expects at least $8.20 a share, up from $7.90 to $8.10 (CVS results release). The stock was up 0.65% at 6:34 a.m. ET, StockTitan's real-time data shows. StockTitan's CVS Health earnings article explains the quarter and the split.
Biggest stock movers today and why
Outside the election trade, the biggest moves come from company results. Ouster and Arista Networks jumped after strong reports, while Amdocs and Nurix plunged.
Ouster, which makes lidar sensors that help robots and machines see, was up 15.42% at 6:24 a.m. ET. Its revenue rose 50% to $59 million, and it expects more next quarter (Ouster release).
Companies that make gear for AI data centers rose after reporting on Tuesday evening, even as AI cloud stocks such as CoreWeave fell. Arista Networks was up 11.97% at 6:32 a.m. ET after revenue of about $3.66 billion topped its own forecast (Arista release). Super Micro Computer and AMD rose after record sales, as StockTitan's Super Micro and AMD earnings articles explain. Navitas Semiconductor, which makes power chips, was up 10.63% at 6:33 a.m. ET after its revenue grew 38% (Navitas release).
The biggest drop belongs to Amdocs, which makes billing software for phone companies. It was down 41.53% at 6:34 a.m. ET. Amdocs forecast lower revenue for its 2027 fiscal year, and it and T-Mobile have each accused the other of breaking their contracts (Amdocs release).
Nurix Therapeutics was down 29.12% at 6:31 a.m. ET after Sanofi ended an experimental drug program the two had worked on. Nurix no longer expects milestone payments or royalties from it (Nurix release). Taboola, which places ads on news sites, was down 20.29% at 6:32 a.m. ET after mixed results, in which revenue fell 6.9% (Taboola release).
Uber's results came out at 6:55 a.m. ET, and the stock was down 2.40% at 6:58 a.m. ET.
Uber's gross bookings, the value of the rides and deliveries booked through its apps, rose 20% to $59.8 billion. Net income of $512 million included a $476 million pre-tax loss from revaluing its stakes in other companies (Uber release).
| Company | Move | Why |
|---|---|---|
| Ouster (OUST) | +15.42%, pre-market, 6:24 a.m. ET | Third-quarter revenue rose 50% to $59 million, with $61 million to $64 million expected next quarter (release). |
| Arista Networks (ANET) | +11.97%, pre-market, 6:32 a.m. ET | Third-quarter revenue of about $3.66 billion topped its own forecast (release). |
| Navitas Semiconductor (NVTS) | +10.63%, pre-market, 6:33 a.m. ET | Revenue rose 38% to $14.0 million, and it expects $16.0 million next quarter (release). |
| Flywire (FLYW) | +9.97%, pre-market, 5:43 a.m. ET | Revenue rose 25.1% to $250.3 million, and it raised its growth forecast for the year (release). |
| Hecla Mining (HL) | +9.77%, pre-market, 6:21 a.m. ET | Record quarterly free cash flow of $151 million (release); silver also jumped 4.44%, CNBC reported. |
| First Solar (FSLR) | +8.55%, pre-market, 6:34 a.m. ET | Clean energy stocks rose on expectations of a policy shift after Democrats won Congress, CNBC reported. |
| Super Micro Computer (SMCI) | +8.03%, pre-market, 6:34 a.m. ET | Record quarterly net sales of $19.9 billion (release). |
| Sunrun (RUN) | +7.95%, pre-market, 6:33 a.m. ET | Solar stocks rose on expectations of a policy shift after Democrats won Congress, CNBC reported. |
| Plug Power (PLUG) | +7.80%, pre-market, 6:34 a.m. ET | Clean energy stocks rose on expectations of a policy shift after Democrats won Congress, CNBC reported. |
| AMD (AMD) | +5.70%, pre-market, 6:34 a.m. ET | Record revenue of $13.4 billion, up 45%, and a forecast of about $17 billion next quarter (release). |
| Amdocs (DOX) | -41.53%, pre-market, 6:34 a.m. ET | Forecast revenue for fiscal 2027 down 14.3% to 17.9%, amid a contract dispute with T-Mobile (release). |
| Nurix Therapeutics (NRIX) | -29.12%, pre-market, 6:31 a.m. ET | Sanofi ended SAR448272, an experimental drug it ran with Nurix, so Nurix no longer expects milestone payments or royalties from it (release). |
| Taboola (TBLA) | -20.29%, pre-market, 6:32 a.m. ET | Mixed results: revenue fell 6.9% to $462.3 million, while gross profit rose 9.6% (release). |
| Skyworks (SWKS) | -15.11%, pre-market, 6:33 a.m. ET | Expects December quarter revenue, its first since combining with Qorvo, about 7% below combined September revenue at the midpoint, or about 3% without an extra week (release). |
| Trump Media (DJT) | -6.89%, pre-market, 6:35 a.m. ET | Fell after CNBC's Election Desk projected that Democrats would win the House, CNBC reported. |
| SpaceX (SPCX) | -4.86%, pre-market, 6:34 a.m. ET | Fell as Democrat Gina Hinojosa led the Texas governor race overnight, CNBC reported. |
| Tesla (TSLA) | -4.55%, pre-market, 6:34 a.m. ET | Fell alongside SpaceX, Elon Musk's other big company, as investors watched the Texas governor race, CNBC reported. |
| CoreWeave (CRWV) | -3.35%, pre-market, 6:34 a.m. ET | AI cloud stocks fell after Democrats won Congress; investors had worried a sweep could weigh on AI build-out stocks, CNBC reported. |
Source: StockTitan real-time Nasdaq data, November 4, 2026, last pre-market trade against each stock's November 3 close; company releases linked in each row; CNBC as named.
What to watch for the rest of the day
A private jobs report comes at 8:15 a.m. ET, and McDonald's is due before the open. The final count in the Texas governor race is still to come.
- Before the open: McDonald's is expected to report, as the earnings calendar for the week lists.
- 8:15 a.m. ET: the ADP report on private sector jobs, and at 8:30 a.m. ET the US trade report, both on StockTitan's economic calendar.
- The Texas governor race and the final House and Senate seat counts: the official results from the Texas Secretary of State and each state's election officials.
- In the evening: Arm, Qualcomm, McKesson and AppLovin report, as the earnings calendar lists.
- Friday, November 6, 8:30 a.m. ET: the government's October jobs report, on the economic calendar.
Our numbers
These figures are our calculations from the sources linked in this article.
- Each pre-market move: a stock's last trade at the stated time against its November 3 close, from StockTitan real-time Nasdaq data.
- About 3.4%: the 929.75-point rise in Nasdaq-100 futures from their overnight low, divided by that low of 27,615.75, both as CNBC reported them.
Frequently asked questions
What is moving the stock market today?
The midterm elections. Democrats won control of the House and the Senate, CNBC reported. Stock futures turned an overnight drop into a gain as the clear result let investors look past the political risk, according to CNBC. At 6:25 a.m. ET on November 4, Dow futures were up 724 points, or 1.4%, and S&P 500 futures were up 1%.
Why is Amdocs (DOX) stock down today?
Amdocs was down 41.53% at 6:34 a.m. ET in pre-market trading on November 4. It forecast revenue for its 2027 fiscal year down 14.3% to 17.9%, and it and T-Mobile have each accused the other of breaking their contracts.
Why is Nurix Therapeutics (NRIX) stock down today?
Nurix was down 29.12% at 6:31 a.m. ET in pre-market trading on November 4. Sanofi decided to end SAR448272, an experimental drug it ran with Nurix, so Nurix no longer expects milestone payments or royalties from it.
Why is Ouster (OUST) stock up today?
Ouster was up 15.42% at 6:24 a.m. ET in pre-market trading on November 4. Its third-quarter revenue rose 50% to $59 million, and it expects $61 million to $64 million in the fourth quarter.
Why is Arista Networks (ANET) stock up today?
Arista was up 11.97% at 6:32 a.m. ET in pre-market trading on November 4. Its third-quarter revenue of about $3.66 billion topped the forecast it had given.
Why is First Solar (FSLR) stock up today?
First Solar was up 8.55% at 6:34 a.m. ET in pre-market trading on November 4. Clean energy stocks rose on expectations of a policy shift after Democrats won Congress, CNBC reported.
Why is SpaceX (SPCX) stock down today?
SpaceX was down 4.86% at 6:34 a.m. ET in pre-market trading on November 4. CNBC linked the drop to the Texas governor race, where Democrat Gina Hinojosa, who wants an immediate stop to data centers in the state, led overnight.
Why is Tesla (TSLA) stock down today?
Tesla was down 4.55% at 6:34 a.m. ET in pre-market trading on November 4. It fell alongside SpaceX, Elon Musk's other big company, as investors watched the Texas governor race, CNBC reported.
Sources
- StockTitan: live market coverage, November 3, 2026
- StockTitan: AMD third quarter 2026 results article
- StockTitan: Super Micro first quarter fiscal 2027 results article
- StockTitan: CVS Health third quarter 2026 results article
- StockTitan: Earnings Calendar for the Week of November 2, 2026
- StockTitan economic calendar
- CVS Health planned separation release
- CVS Health third quarter 2026 results release
- Uber third quarter 2026 results release
- Ouster third quarter 2026 results release
- Arista Networks third quarter 2026 results release
- Navitas Semiconductor third quarter 2026 results release
- Flywire third quarter 2026 results release
- Hecla Mining third quarter 2026 results release
- Super Micro Computer first quarter fiscal 2027 results release
- AMD third quarter 2026 results release
- Amdocs fourth quarter fiscal 2026 results release
- Nurix Therapeutics release on Sanofi's decision
- Taboola third quarter 2026 results release
- Skyworks fourth quarter fiscal 2026 results release
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.