The Nasdaq Composite fell about 1%, mainly as Oracle dropped nearly 9% after filing to raise $20 billion in stock and debt for its AI build-out, and Marvell shares fell about 13% after agreeing to buy Lumentum in a $115 billion all-stock deal (Lumentum fell nearly 19%). Still, breadth was positive: 1,027 stocks rose versus 473 that fell across the S&P 500, MidCap 400, SmallCap 600 and Nasdaq-100, and the equal-weight S&P 500 rose 0.8% while the regular index fell 0.5%, as 10 companies make up 39% of the index's value. The article also cites history: the S&P 500 rose in the 12 months after 32 of 38 midterm elections since 1874, averaging 14% versus 11% for any 12-month period, with the result of the vote having little link to returns. It suggests checking whether companies can fund themselves and avoiding adding to losing positions, a habit it calls "add up, don't double down."
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OracleAI investmentmergers and acquisitionsmidterm electionsNasdaq
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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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