The S&P 500 was roughly flat before the open, but the index is splitting: hyperscalers and Apple extended Wednesday's post-election rally while chipmakers fell on concerns that voters have made AI data centers harder to build. Democrats flipped control of both the House and Senate on Tuesday, and according to CNBC, voters sided against AI data centers in 40 of 41 local ballot measures. Amazon jumped 8% Wednesday and rose a further 2% pre-market, while NVIDIA was down 2% and Intel down 3% pre-market, with Intel having lost 51% in a month. Needham analyst Laura Martin said hyperscalers are AI incumbents, the VIX was near 21, and the 10-year Treasury yield was just under 5%. The day's main scheduled event is the Fed's policy statement at 2 p.m. ET, with the top of its target range at 4%.
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Keywords
NVDAQQQFedinterest ratesartificial intelligence
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: low
| 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
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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