U.S. index futures were mixed overnight after the Dow closed 3% higher and the S&P 500 gained 1.58% on Wednesday, as Democrats won control of both the Senate and the House in the Nov. 3 midterm elections. AI-linked and data-center stocks fell on concerns about tighter AI rules and slower buildouts: Nvidia dropped 3%, Micron 7%, Sandisk nearly 8%, and Nebius more than 6%. Yorkville Advisors partner Dan Ives said the shift will slow the pace of AI buildout in the US, while Fundstrat's Tom Lee called the tech selloff a 'knee-jerk reaction' and said tech stocks could rally 15–20%. Oil fell as expectations for an end to the Iran war rose, with Brent at $93.91 a barrel and WTI at $87.24. IREN drew attention after The Information reported that Microsoft's lower-than-expected AI data center spending was partly caused by delays from the Australian cloud infrastructure provider.
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S&P 500artificial intelligenceNVDAdata centersmidterm electionsoil prices
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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