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The S&P 500 and Nasdaq closed higher on Tuesday as tech and chip stocks recovered ahead of the US midterm election results. The S&P 500 rose 0.4%, the Nasdaq 100 gained 0.7%, and the Dow Jones Industrial Average eased 0.4%, while semiconductor ETFs rose between 2% and 2.5% on strength in Nvidia, AMD, Micron and Broadcom. Apple shares dropped about 2% after its quarterly margins and sales failed to impress investors. AMD reported a 45% jump in third-quarter revenue to a record $13.4 billion, driven by demand for AI processors and data center chips. Prediction-market odds of almost 75% that Democrats win the Senate could affect regulatory oversight in defense, AI and healthcare.
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