How the major indexes finished
Monday, November 2 closing prices
|
Index |
Closing level |
Daily change |
|---|---|---|
|
Dow Jones |
51,983.98 |
+0.41% |
|
S&P 500 |
7,541.40 |
−0.51% |
|
Nasdaq |
25,164.32 |
−1.07% |
|
Russell 2000 |
2,805.88 |
−0.21% |
What drove the market today?
Technology stocks continued falling Investors remain concerned that companies are spending enormous amounts on artificial intelligence infrastructure without generating enough profits to justify the investment. AMD fell 7.5%. Oracle fell nearly 9%. Apple fell 1.5% ahead of earnings. Amazon gained 2.2%.
Oil prices dropped sharply. Oil fell approximately 7% amid optimism about potential peace negotiations between the United States and Iran. Lower oil prices can help reduce inflationary pressure and benefit consumers and businesses.
Investors are nervous about the week ahead. Three important events are approaching:
-
November 3: U.S. midterm elections.
-
November 6: Monthly U.S. employment report.
-
Major corporate earnings announcements, including technology companies.
What does this mean for investors?
The interesting thing today is that the market wasn’t uniformly negative.
-
The Dow gained. Most S&P 500 stocks actually advanced. Technology stocks remained under pressure. The Nasdaq-100 entered correction territory, falling more than 10% from its October peak.
My takeaway: Investors are becoming more selective. They’re questioning expensive technology and AI stocks while looking for opportunities elsewhere in the market. - ChatGBT 11/2/26