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    Monday, November 2
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    Stock market today: Dow, S&P 500, Nasdaq futures recover from bruising sell-off ahead of busy week

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    US stock futures climbed in premarket trading on Monday as investors regained risk appetite ahead of another packed week of earnings, midterm elections, and a key jobs report.

    Futures on the Dow Jones Industrial Average (YM=F) rose 0.4%, while those on the S&P 500 (ES=F) added 0.4%. Contracts for the Nasdaq-100 (NQ=F) jumped 0.8% higher after the index briefly entered into a correction.

    Markets were poised to bounce back after an AI-fueled sell-off late last week that saw the Nasdaq Composite lose 5.2% during the month of October. Chipmakers and other tech names rebounded ahead of the market open, though Apple (AAPL) shares dipped slightly in the lead-up to the iPhone maker’s earnings report after the bell on Monday.

    Bitcoin (BTC-USD) rose slightly to trade near $78,000 per token after cryptocurrencies took a hit following a $6.3 billion hack of Binance, which investigators are calling the biggest crypto hack in history.

    Crude oil prices, meanwhile, dropped amid reports that the US and Iran are seeking a diplomatic resolution to the war in the Middle East. Brent crude futures (BZ=F), the international benchmark, traded near $109 per barrel.

    On the economic data front, investors will get a reading on US manufacturing activity and prices paid. The calendar for the rest of the week will feature several pieces of labor market data, culminating in the government’s October jobs report on Friday.

    LIVE 2 updates

    • Big Tech’s sell-off wasn’t about the actual fundamentals

      With another Big Tech company reporting earnings today (Apple (AAPL)) after the Street gave punishing post-earnings reactions to Alphabet (GOOG) and Amazon (AMZN) stocks last week, Yahoo Finance’s Jake Conley offers some perspective on the market mood:

      It was a deeply red week for the tech sector after a slew of earnings failed to give investors the signs of strength they were looking (and hoping) for.

      At Alphabet, a miss on both revenue and profit sent shares falling 13% as Sundar Pichai said that while the company’s search division had grown, the money wasn’t keeping up as AI cuts into search monetization.

      Down the street at Amazon, a double miss on both earnings and revenue triggered a sell-off that couldn’t be stopped by strong cloud growth in AWS.

      And we can’t forget Intel, where a beat on earnings and in-line revenue were overshadowed by weakness in PC sales, attributed to heightened memory costs. That company lost a quarter of its value after the report, falling over 28%.

      But there’s a conundrum for investors in these earnings reports. As Barron’s associate editor Al Root said to Yahoo Finance, the numbers weren’t all bad; it’s more like investors have gotten more demanding.

      “It’s not that the earnings were awful, it’s just that it wasn’t enough to support the market,” Root said on “The 8:30.” He added, “The level of nerves going into earnings season was so high, like everybody was waiting for the shoe to drop.”

      Read more.

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

      Economic data: S&P Global US manufacturing index, October final reading (56 prior); ISM manufacturing, October (54.7 expected, 54.5 prior); ISM prices paid, October (77.5 expected, 77.9 prior); ISM new orders, October (54.9 expected, 55.3 prior); ISM employment, October (52 expected, 52.7 prior); Construction spending, month-on-month, September (+0.5% expected, +0.9% prior)

      Earnings calendar: Apple (AAPL), Palantir Technologies (PLTR), Vertex Pharmaceuticals (VRTX), Marriott (MAR), The Williams Companies (WMB), Diamondback Energy (FANG), Realty Income Corporation (O), Entergy (ETR), ON Semiconductor (ON), Ryanair Holdings (RYAAY), Fox Corp. (FOX), Roku (ROKU), Loews (L), Tower Semiconductor (TSEM), Lattice Semiconductor Corporation (LSCC)

      Catch up on some top stories you might have missed over the weekend:

      AI stocks just lost $5 trillion — but history says the stock market’s sweetest stretch starts now

      Over 40% of Americans don’t know how much they’ll need for retirement

      These 3 sectors could be in focus next year in Washington — no matter who wins on Tuesday

      Apple to report Q4 earnings Monday, with iPhone 18 sales in the spotlight

      Tech stock meltdown could get a lot worse if history is any guide

      Microsoft and Skydance announced buyouts. What does it mean for workers in a ‘low-hire’ market?



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