Market Summary - November 4, 2026
Wall Street Rebounds
On November 4, 2026, US stock index futures showed a significant recovery from earlier losses following the congressional elections. The results indicated that Democrats gained control of both chambers of Congress, which led to a decrease in political uncertainty. President Donald Trump’s acceptance of the election results further encouraged investors to buy stocks after a recent sell-off.
Market Performance
As of around 10:40 AM GMT, S&P 500 futures (US500) had rebounded from a decline of nearly 1.4% to trade 0.8% higher. Similarly, Nasdaq 100 futures (US100) recovered from a drop of over 2% to rise by 0.4%. This sharp reversal indicates an improving risk appetite among investors, although the sustainability of this rebound will depend on ongoing assessments of the new political landscape in Washington.
Technology Stocks and Earnings Reports
Despite initial concerns regarding the impact of a Democratic victory on technology stocks, the market showed resilience. The Nasdaq 100's recovery was bolstered by stronger-than-expected quarterly results from companies like AMD and Arista Networks, which are key players in AI infrastructure.
Technical Analysis
The S&P 500 futures are exhibiting a clear V-shaped recovery, approaching the 200-period exponential moving average (EMA200). A break above the 7,700-point barrier could lead to resistance levels around 7,820 and 7,900 points, with the latter being close to the all-time high. Key support is identified at 7,500 points, which corresponds to the local low established during the initial market reaction to the election results.
For the Nasdaq 100, the 28,900–29,000-point range is currently a significant resistance zone, aligning with the EMA200 and previous price reaction areas. Support is noted around 27,500 points, reflecting the local low from the recent sell-off.
Additional Market Updates
On the same day, the ADP report indicated that the US labor market is stronger than expected, surprising analysts ahead of the government data release. European stocks also rose following the US elections, reflecting a broader positive sentiment in the markets.