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US stocks today: Nasdaq rebounds as chipmakers rally, Apple slides ahead of US midterm results
Economic Times 2 hrs ago·3 Nov 2026, 9:20 pm
US equity markets finished the session with a mixed tone, as the tech-heavy Nasdaq index managed a rebound. This recovery was primarily driven by a rally in semiconductor and artificial intelligence-related stocks. Investors are closely watching these sectors as they navigate the upcoming US midterm election results.
The broader market sentiment was somewhat tempered by a decline in Apple shares. The tech giant slipped as investors grew concerned about potential margin pressure. This anxiety stems from rising costs for memory chips, which are a critical component for consumer electronics and data centers. The market is now focusing on how these cost factors might impact profit margins during the crucial holiday quarter.
Investors are currently balancing the optimism surrounding AI growth with the caution regarding supply chain costs. The focus now shifts to the election outcome and how it might influence fiscal policy. Market participants will be watching for corporate earnings reports and further commentary on the sustainability of current AI spending trends.
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- Category: Stocks.
- Assessed as a significant, market-relevant update.
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