Election Day Trading Splits the Benchmarks, With the Dow Lower and the Nasdaq Higher

NEW YORK, Nov. 3, 2026 /CNW/ -- Equity Insider News Commentary - Tuesday's session reversed the pattern of the day before. On Monday, the Dow Jones Industrial Average was the only one of the four major U.S. stock benchmarks to finish higher; by mid-morning on Election Day, the S&P 500, the Nasdaq Composite and the Russell 2000 were all in positive territory while the Dow was in the red, and the 10-year Treasury yield was higher. Quarterly results released on Monday and this morning gave investors a fresh batch of company-specific news to sort through, and shares of several of the companies that reported moved by several percent or more in either direction. Active Companies from around the markets with current developments this week include: Palantir Technologies Inc. (NASDAQ: PLTR), NVIDIA Corporation (NASDAQ: NVDA), Pfizer Inc. (NYSE: PFE), Apollo Global Management, Inc. (NYSE: APO), Ibotta, Inc. (NYSE: IBTA).

As of 10:26 a.m. ET, the S&P 500 stood at 7,569.78, up 28.38 points or 0.38%, the Dow Jones Industrial Average was at 51,731.47, down 252.51 points or 0.49%, and the Nasdaq Composite was at 25,367.33, up 202.97 points or 0.81%, according to real-time index quotes published by CNBC. The Russell 2000, for which only delayed data was available, was at 2,820.95 as of 10:10 a.m. ET, up 15.08 points or 0.54%. On Monday, the S&P 500 closed at 7,541.40, down 0.51%, and the Dow closed at 51,983.98, up 0.41%, according to S&P Dow Jones Indices, while the Nasdaq Composite finished at 25,164.36, down 1.07%, according to Nasdaq, and the Russell 2000 closed at 2,805.88, according to Cboe.

Treasury yields were higher. The 10-year Treasury yield was 4.958% as of 10:26 a.m. ET, up 6.4 basis points from Tradeweb's prior close, based on Tradeweb data published by CNBC. On the U.S. Treasury's daily par yield curve, a separate measure, the 10-year par yield was 4.91% on Monday, with the 2-year at 4.59% and the 30-year at 5.28%. Treasury supply is also on this week's calendar: Treasury said on Monday it expects to borrow $618 billion in privately-held net marketable debt during the October through December quarter, $10 billion less than it announced in August, and that additional details on its Quarterly Refunding will be released at 8:30 a.m. on Wednesday, November 4. At its October 27-28 meeting, the Federal Reserve kept the target range for the federal funds rate at 3-3/4 to 4 percent, with Lisa D. Cook and Beth M. Hammack dissenting in favor of a 1/4 percentage point increase. The next meeting is scheduled for December 8-9.

The Bureau of Labor Statistics reported at 10:00 a.m. ET that the number of job openings was little changed at 7.5 million in September, with hires at 5.4 million and total separations at 5.3 million, while quits increased to 3.4 million. The Institute for Supply Management's October manufacturing report, released this week, put its Manufacturing PMI at 55.5 percent, 1 percentage point above September, with manufacturing activity expanding for the 10th consecutive month. Voting in the U.S. midterm elections is under way, and no results are available yet.

When the Dow and the Nasdaq head in opposite directions, the chart of each index can tell a different story about the same session. Readers who want to learn how to read those setups can get the free Knowledge is Power guide from Stock Preachers at equity-insider.com/.

In other industry developments and happenings in the market this week include:

Palantir Technologies Inc. (NASDAQ: PLTR)

Palantir reported on Monday that third-quarter revenue rose 96% year over year to $2.313 billion, the first time its quarterly revenue has passed $2 billion. U.S. commercial revenue grew 148% to $984 million, moving ahead of U.S. government revenue of $953 million, and GAAP net income was $1.128 billion, or $0.44 per diluted share. The company raised its full-year 2026 revenue guidance to between $8.530 billion and $8.534 billion and its U.S. commercial revenue guidance to in excess of $3.559 billion, and it expects fourth-quarter revenue of between $2.649 billion and $2.653 billion. As of 10:26 a.m. ET, Palantir shares were at $169.47, down 4.98%.

"Our U.S. commercial revenue has surpassed our U.S. government revenue for the first time in our company's history," said Alex Karp, Co-Founder and Chief Executive Officer of Palantir Technologies.

NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA, one of the 30 stocks in the Dow Jones Industrial Average, said on October 26 that it will expand its work with Meta on Muse and the Muse family of models, that Meta intends to expand its deployment of NVIDIA infrastructure including Vera Rubin and Vera CPUs, and that NVIDIA will invest $3 billion in Meta's equity offering. A day later, NVIDIA and Oracle announced plans to expand Oracle Cloud Infrastructure Superclusters with Vera Rubin NVL72 systems to multi-gigawatt scale, along with general availability of Vera Rubin NVL72 and Vera CPUs on OCI. NVIDIA will hold a conference call on Tuesday, November 17, at 5 p.m. ET to discuss results for its fiscal third quarter, which ended October 25. As of 10:26 a.m. ET, NVIDIA shares were at $208.07, up 2.97%.

"This changes how we use computers, from operating applications to working with intelligent agents," said Jensen Huang, founder and CEO of NVIDIA.

Pfizer Inc. (NYSE: PFE)

Pfizer reported on Tuesday third-quarter revenues of $16.6 billion, relatively flat year over year on an operational basis. Excluding Comirnaty and Paxlovid, revenues grew 7% operationally, and revenues from launched and acquired products grew 32% operationally, while Paxlovid revenue fell 63% operationally. Reported diluted EPS was $0.56 and adjusted diluted EPS was $0.87. The company raised its full-year revenue guidance by $1.5 billion at the midpoint to a range of $62.0 billion to $64.0 billion and raised and narrowed its adjusted diluted EPS guidance to $2.95 to $3.05, a range that includes a one-time $650 million acquired in-process R&D charge related to its agreement with Innovent Biologics. As of 10:26 a.m. ET, Pfizer shares were at $30.56, down 0.37%.

"Pfizer had another strong quarter with commercial momentum and disciplined execution while advancing our strategy for creating long-term shareholder value," said Dr. Albert Bourla, Chairman and CEO of Pfizer.

Apollo Global Management, Inc. (NYSE: APO)

Apollo reported third-quarter results on Tuesday morning, and its results presentation showed adjusted net income of $1.3 billion, or $2.07 per share, alongside a GAAP net loss attributable to common stockholders of $1.1 billion, or $(1.78) per share, which the company said was driven primarily by unrealized mark-to-market losses on certain investments within its Retirement Services segment resulting from higher interest rates. Fee related earnings were $802 million, inflows for the quarter totaled $53 billion, and assets under management stood at approximately $1.07 trillion as of September 30. Apollo declared a cash dividend of $0.5625 per share, payable November 30 to holders of record at the close of business on November 18. As of 10:26 a.m. ET, Apollo shares were at $114.15, down 4.45%.

"Origination reached a new high of $114 billion in the quarter, and over the last twelve months, activity exceeded $350 billion while our clients entrusted us with $270 billion of inflows," said Marc Rowan, Chairman and Chief Executive Officer at Apollo.

Ibotta, Inc. (NYSE: IBTA)

Ibotta, which describes itself as the performance marketing platform for promotions, reported on Monday that third-quarter revenue grew 17% to $97.8 million and that results exceeded the upper end of its guidance range for both revenue and adjusted EBITDA. Redemption revenue rose 23% to $88.5 million, third-party publisher redemption revenue climbed 43% to $70.7 million, and redeemers on the Ibotta Performance Network increased 30% to 23.6 million. The company recorded a net loss of $3.5 million and adjusted EBITDA of $23.8 million, said Ibotta-powered promotions went live across the 7-Eleven and Speedway apps after the quarter ended, and guided fourth-quarter revenue to $94 million to $98 million. As of 10:26 a.m. ET, Ibotta shares were at $64.10, up 28.02%.

"We delivered accelerating revenue growth in the third quarter, with revenue up 17% and Adjusted EBITDA up 43% year-over-year, both exceeding our expectations," said Ibotta CEO and Founder, Bryan Leach.

A split session like today's can look very different depending on which index is on the screen, and company results can move individual stocks far more than the averages. Learn to read those charts with the free Stock Preachers guide, plus The Roadmap market reports, at equity-insider.com/.

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This article is independent news commentary. Equity Insider is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the companies mentioned in this article other than NVDA, with no plans to sell these shares in the next 30 days, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Index levels, the intraday 10-year Treasury yield and share prices are as published by CNBC as of 10:26 a.m. ET on November 3, 2026 (Russell 2000 delayed, as of 10:10 a.m. ET; yield based on Tradeweb data) and will have changed by the time of reading. Monday, November 2, 2026 closing levels are from S&P Dow Jones Indices, Nasdaq and Cboe, and Treasury par yields are from the U.S. Department of the Treasury daily par yield curve for November 2, 2026. Economic data are from the U.S. Bureau of Labor Statistics (November 3, 2026), the Institute for Supply Management (October 2026 Manufacturing PMI report), the U.S. Department of the Treasury (November 2, 2026) and the Federal Reserve (October 28, 2026). Company figures, guidance and scheduled dates are as stated in the companies' own releases and filings dated October 26 through November 3, 2026 and may change. Information is drawn from company news releases and filings, government and industry data, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.

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