Stock market today: Dow, S&P 500 and Nasdaq gain after Democrats take control of the House and Senate

November 4, 2026 7 Min Read

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U.S. stocks soared Wednesday after Democrats took control of both houses of Congress in seismic midterm elections, paving the way for divided government.

The Dow Jones Industrial Average (^DJI) rose 1.9%, while the S&P 500 (^GSPC) rose 1.2%. The Nasdaq Composite (^IXIC) rose 1.3%.

52,871.92 +1,085.20 (+2.10%)

At 9:33:15 a.m. EST. Open market.

^DJI ^GSPC ^IXIC

AMD (AMD) stock fell before the bell after initially climbing in premarket trading following the company’s higher third-quarter earnings.

Markets quickly reassessed the Democrats’ victory in the House and Senate, as well as the possibility that ballot measures and newly elected officials would restrict data center construction. Chip stocks including Nvidia (NVDA) and Micron (MU) fell more than 1%. Investors will also be watching for moves in housing and pharmaceuticals in the aftermath of the election.

As Yahoo Finance’s Jared Blikre pointed out Tuesday, midterm elections have a habit of shaping stock performance in the short term, but don’t move markets much in the long term.

Wednesday’s economic calendar features S&P and ISM data on economic activity indices, while ADP’s private employment figures will offer insight into the state of the “low hiring, low firing” labor market.

Arm Holdings Earnings Reports (ARM), McDonald’s (MCD), Qualcomm (QCOM), Novo Nordisk (NVO), and Uber Technologies (UBER), and many others, provide alternative data points on consumer health and AI demand.

LIVE 8 updates

“Fairly solid job growth”: US private employers created 86,000 jobs in October
Private sector hiring showed continued strength in October, according to payroll processor ADP, as employers across various sectors added positions, Yahoo Finance’s Claire Boston reports:
Private companies created 86,000 jobs this month, compared to 86,000 in September, according to data released Wednesday. Economists expected a gain of 67,000 jobs.
Base wages for private sector workers increased by 3.2%, still below inflation, while gross pay, which includes additional pay such as overtime and bonuses, increased by 4.7%.
“You have two straight months in a row of pretty solid job growth,” said Nela Richardson, ADP chief economist.
Learn more:
Block stock jumps as Jack Dorsey’s AI bet shows signs of profitability
Eight months after Jack Dorsey made one of America’s boldest corporate bets by downsizing to prepare for the age of artificial intelligence, investors are finding new reasons to buy into the Silicon Valley billionaire’s pivot.
Shares of Dorsey’s Block (XYZ), the payments company behind Cash App and merchant processor Square, jumped 9% in premarket trading Wednesday after reporting better-than-expected third-quarter earnings and raising its gross profit outlook for next year.
Learn more:
McDonald’s third-quarter sales growth slows amid tough consumer sentiment and new drinks push
McDonald’s (MCD) sales growth slowed in the third quarter as consumers faced tough economic conditions and the fast-food chain unveiled its growth strategy.
The results showed that same-store sales rose 1.5% year over year, slightly more than the 1.4% growth Wall Street expected, according to Bloomberg estimates. In the third quarter of last year, McDonald’s reported same-store sales growth of 3.6%.
In the United States, the company reported a 0.2% decline in comparable sales, slightly lower than the expected 0.5% decline. Data from Placer.ai shows visits to the Golden Arches were down compared to last year, but the company said customers were spending more when they went.
The October promotions gave rise to a certain vigor as the end-of-year holidays approached. CEO Chris Kempczinski said the company was “encouraged by the improvement as the quarter progressed following our value intervention.”
Learn more.
CVS announces plans to split into two companies, separating pharmacy from insurance
CVS (CVS) announced plans Wednesday to separate into two independent, publicly traded companies, restructuring one of the largest health care companies in the United States.
The company intends to separate CVS Health’s insurance, pharmacy benefits management and health services businesses from its retail pharmacy and community health care segments.
The planned separation represents a significant shift from CVS Health’s long-term strategy of combining insurance, pharmacy benefit management and direct health services under a single corporate structure.
Under the proposed structure, one company will retain the CVS Health name and house Aetna, CVS Caremark, CVS Specialty, Oak Street Health and Signify Health.
The second entity, which will operate as CVS Pharmacy, will include, among other services, approximately 9,000 retail pharmacies and MinuteClinic locations.
Learn more.
Democrats have taken control of Congress. Their economic agenda targets health care, tariffs and Trump allies.
Ben Werschkul of Yahoo Finance reports:
Democrats regained power in Washington on Tuesday evening after trading key seats in the House and Senate to gain majorities in both chambers of Congress.
Democrats secured control of the Senate after winning elections in historically red states, including Texas, South Carolina and Kansas.
The party was also “marching toward control of the House of Representatives” Tuesday night, according to the Associated Press, after moving seats from Florida to New Jersey and Kentucky. All four major networks said Democrats’ control of the House was assured.
The shift in power creates a new platform for Democrats to launch investigations into President Trump’s economic allies — Elon Musk to name one — and pass bills that are unlikely to become law but will mark a sea change in the political climate for business leaders and economic issues after two years of unified Republican control.
The move also appears intended to elevate figures like Democratic Sen. Elizabeth Warren and others to important positions overseeing economic policy.
Learn more.
House Minority Leader Hakeem Jeffries, D-N.Y., speaks with reporters during a midterm election night call and surveillance in Washington, DC, Tuesday, November 3, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images) · Tom Williams via Getty Images
The sale of AI saved Apple from its own sale
Hamza Shaban of Yahoo Finance writes:
Despite higher profits and strong iPhone sales, investors focused on Apple’s ( AAPL ) weaknesses, slowing services growth and forecast falling margins, with the stock falling 2% on Tuesday.
But the iPhone maker may also have been cushioned by its unique position among tech giants — and by the massive selloff it experienced a few trading days ago.
While everyone else has been spending huge amounts on AI development, Apple has been biding its time, as if content to simply let its competitors do their business on its hardware. For some, this is the “bad” end of the AI business.
But in moments of AI anxiety, when the meaning of this lavish spending shifts from “potential” to “risk,” it sends investors fleeing Google, Amazon, and Microsoft into the arms of Cupertino, safe from risky AI bets.
Learn more.
A Democrat won the Texas gubernatorial race after promising to stop the construction of new data centers.
Ben Werschkul of Yahoo Finance reports:
A strong showing by Democrats in Texas lifted Gina Hinojosa to the state’s first Democratic governor since 1990, in a contest closely watched by big tech companies.
The state is considered a bellwether for government restrictions on AI data centers.
Incumbent Gov. Greg Abbott conceded victory Tuesday night, calling out Hinojosa and then telling his supporters, “mathematically, we’re not going to be able to win this election.” The Associated Press declared Hinojosa the winner at 11:17 p.m. ET.
Hinojosa, Texas’ first Latino governor, has pledged to place a moratorium on the construction of data centers in Texas, which represent more than 25% of planned U.S. capacity by 2030.
Learn more.
Democratic candidate for Texas governor Gina Hinojosa makes a final public appearance with supporters outside the Austin Recreation Center before the polls close on Election Day, November 3, 2026, in Austin, Texas. (Chip Somodevilla/Getty Images) · Somodevilla Chip via Getty Images
Good morning. Here’s what’s happening today.
Economic data: MBA mortgage applications, week ended October 30 (+3.4% previously); Change in ADP employment, October (+70,000 expected, +90,000 previously); S&P Global US Services PMI, October final reading (previously 57.9); S&P Global US Composite PMI, October final reading (previously 57.6); ISM services index, October (54.7 expected, 54.9 previously); ISM serves new orders, October (75 expected, 74 previously); ISM serves new orders, October (58.8 expected, 59.8 previously); Employment in ISM services, October (50 expected, 50.1 previously)
Earnings schedule: Arm Holdings (ARM), McDonald’s (MCD), QUALCOMM (QCOM), Novo Nordisk (NVO), Uber Technologies (UBER), McKesson Corporation (MCK), CVS Health (CVS), Emerson Electric (EMR), Datadog (DDOG), MercadoLibre (MELI), Motorola Solutions (MSI), Manulife Financial Corporation (MFC), The Allstate Corporation (ALL), MetLife (MET), Kraft Heinz (KHC)
Check out some other notable news from the night:
Gold rises as the dollar weakens; Democrats quickly win US midterm elections
Asian stocks fall following a sell-off in technology stocks as markets monitor the results of the US midterm elections.
Duolingo Stock Jumps on User Growth and Upbeat Forecast
Punters versus pollsters: the midterm confrontation
AMD’s data center sales nearly doubled, beating Wall Street forecasts

Gn bussni

Stock market today: Dow, S&P 500 and Nasdaq gain after Democrats take control of the House and Senate

“Fairly solid job growth”: US private employers created 86,000 jobs in October

Block stock jumps as Jack Dorsey’s AI bet shows signs of profitability

McDonald’s third-quarter sales growth slows amid tough consumer sentiment and new drinks push

CVS announces plans to split into two companies, separating pharmacy from insurance

Democrats have taken control of Congress. Their economic agenda targets health care, tariffs and Trump allies.

The sale of AI saved Apple from its own sale

A Democrat won the Texas gubernatorial race after promising to stop the construction of new data centers.

Good morning. Here’s what’s happening today.

jack colman

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