Dow Jones dips as US midterm elections influence market sentiment (4 Nov)
- Dow Jones Industrial Average declines during midterm elections.
- Apple shares fall 4% following earnings and margin warnings.
- DuPont stock surges after raising its 2026 profit outlook.
- Palantir shares drop 6% amid slowing contract growth.
- Oil prices slide 2% after funding announcement to Israel.
The Dow Jones Industrial Average fell on Tuesday, 3 November 2026, as US markets traded mixed during the midterm elections. Premarket data at 06:17 ET showed Dow futures down 340 points, or 0.7%, while S&P 500 futures dropped 8 points, or 0.1%.
In contrast, Nasdaq 100 futures rose 87 points, or 0.3%. Investors monitored the ongoing midterm elections alongside rising oil prices.
Apple shares drop 4% following earnings and margin warnings
Apple shares fell 4% in premarket trading following the company's latest earnings report. The firm warned that rising memory costs and expenses related to the rollout of its AI-powered Siri would impact gross margins.
CEO John Ternus, in his first earnings report, described the current memory-pricing environment as "unprecedented" and noted that costs are expected to increase beyond the quarter ending in December. Apple reported a 47.9% gross margin for the September quarter and provided a forecast of 45% to 46% for the quarter ending in December.
Palantir shares slip 6% on slowing contract growth
Palantir shares fell 6% in premarket trading as investors reacted to slowing contract growth. The company reported third-quarter revenue of $2.31 billion and adjusted earnings of $0.44 per share.
DuPont shares surge after raising 2026 profit outlook
The Wilmington, Delaware-based manufacturer surged past its entry point according to reports.
It also raised its annual adjusted earnings forecast to between $7.47 and $7.52 per share.
Earnings updates from Grab, Upwork, Dynatrace and Keurig Dr Pepper
Grab and Upwork shares increased during premarket trading on 3 November 2026.
Upwork shares rose 7.9% to $10.49 after reporting third-quarter adjusted earnings of $0.40 per share and revenue of $185.6 million, both exceeding analyst expectations. The company also announced that its subsidiary Lifted agreed to acquire the Berlin-based employer-of-record firm WorkMotion.
Volumes in the domestic refreshment beverages business, the firm's largest revenue segment, increased by 7.2% while prices rose by 3.7%. The U.S. coffee business saw a 6.9% volume increase, following a 4% decline during the same quarter the previous year. The company is investing in brands including Ghost energy drinks, Bloom Pop prebiotic soda, and Dr Pepper Zero Sugar.
Dynatrace shares fell 16.7% in premarket trading on 3 November 2026. The company reported third-quarter fiscal 2027 revenue of $579.92 million and adjusted earnings of $0.54 per share.
Elsewhere, AMD reported a beat-and-raise performance driven by record sales in its AI data centre division.
Oil prices slide 2% after funding announcement to Israel
Oil prices slid by approximately 2% on 3 November 2026. This decline followed an announcement by Donald Trump regarding plans to halt $4 billion in funding to Israel.
Amgen and Tesla show 2026 growth despite market volatility
Amgen shares have increased by 41% throughout 2026.
Tesla China shares are up 21% for the year, despite experiencing a weak performance in October.
Marvell and Lumentum shares fall on deal news
Marvell and Lumentum shares fell following the announcement of deal news.
Frequently Asked Questions
- Stock Market Election Night Live Coverage: Dow Futures, AI, Musk In Focus | Investor's Business Daily (investors.com)
- Premarket movers: Apple, Palantir, Dynatrace slide premarket; Grab, Upwork jump (za.investing.com)
- DuPont (tavily.com)
- 2022 United States gubernatorial elections (Wikipedia — background) (en.wikipedia.org)
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