Good morning.
The Fast Five → America’s multi-trillion dollar AI buildout is on the ballot, Apple forecast disappoints investors, Disney plans thousands of layoffs, SpaceX wants to buy Boost Mobile, and the mid-term races Wall Street is watching…
🚨 High Risk Alert: Reduce your AI Stock risk by 11/30 →
(from TradeSmith)
Calendar: Full Calendar »
Today:
JOLTS Job Openings, 10:00A
Congressional Elections, all day
Tomorrow:
ISM Services PMI, 10:00A
Your 5-minute briefing for Tuesday, November 3:
BEFORE THE OPEN
As of market close 11/2/2026.
Pre-Market:
Market Wrap:
Futures: Dow +24, S&P +0.1%, Nasdaq +0.3%
Mon: Dow +214 (+0.41%), S&P -0.51%, Nasdaq -1.07%
Tech stocks slid as investors rotated elsewhere
Apple fell 2% after disappointing guidance
Oracle sank 8% on AI financing plans
Midterm elections take center stage Tuesday
Focus shifts to AMD earnings and job openings
EARNINGS
Here’s what we’re watching:
Today: Duolingo $DUOL ( ▲ 2.8% ), *Pfizer $PFE ( ▲ 0.49% ), *Shopify $SHOP ( ▼ 0.81% ), *Sysco $SYY ( ▼ 1.4% ), *Yum! Brands $YUM ( ▲ 1.42% )
Advanced Micro Devices $AMD ( ▼ 7.52% ) - EPS growth of 62% to $1.94 on 42% revenue growth to $13.B.
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HEADLINES
Investors are watching races in key states for pushback against the AI infrastructure build-out.
Apple delivered a forecast for the holiday period that topped Wall Street estimates, even as it failed to impress investors who have bid up the shares in recent months.
S&P 500 ends down; Apple dips ahead of quarterly report (more)
The mid-term races Wall Street and other financial firms are watching (more)
Investors gaming out Congress control for spending, AI outlook (more)
US voters in a sour economic mood heading into midterm elections (more)
Major automakers urge Congress to pass ban on Chinese vehicles (more)
US manufacturing strengthens in October, input prices stay high (more)
Gas prices likely to drop below $4 a gallon in the next week (more)
Oil drops 7% as Iran signals openness to peace talks (more)
US automakers push for ban on Chinese vehicle imports (more)
Anthropic posts $17B quarterly revenue as losses continue in IPO filing (more)
Disney plans thousands of layoffs, targeting 20% cost savings (more)
Palantir drops despite boost to annual revenue outlook (more)
Alphabet kicks off €6 billion bond sale, tests appetite for tech debt (more)
Oracle taps investors for $20B to finance AI expansion (more)
SpaceX wants to buy Boost Mobile to compete with AT&T, T-Mobile, Verizon (more)
Marvell to buy Lumentum in $115B deal in AI data-center bet (more)
Anthropic investors push for cautious valuation closer to $1.5T (more)
Robinhood in 'food fight' for Anthropic IPO retail allocation (more)
Buyers circle Mark Walter’s F1 team as he offloads sports assets (more)
DEALFLOW
M+A | Investments
Marvell to acquire Lumentum in $115B all-stock deal
Blackstone, Canadian pension funds to invest $3.1B in LNG Canada for Mitsubishi stake
Aspen Pharmacare to sell European women’s health product to Ennogen
VC
Kalshi, a financial exchange and prediction market operator, raised $1B in Series G funding
Northwood Space, a shared ground network connecting satellites to Earth, raised $375M in Series C funding
Dulo, an AI foundation model for software engineering and technical automation, raised $130M in Seed funding
Setara Biosciences, a clinical-stage biotech company leveraging genetics to develop medicines for rare diseases, raised $90M in Series A funding
&Truth, a public benefit corporation establishing a foundational standard for provably safe code, raised $70M in Seed funding
nPhase, an AI-native clinical data platform, raised $30M in Series D funding
SuperMe, an AI-powered expert network platform, raised $20M in funding
Pathfinder, a fintech platform supporting families using ESA funds, raised $12M in Series A funding
Rotoris, a luxury horology brand, raised approx. $7.4M in Series A funding
FinMaq, an equipment financing platform for underserved markets, raised $6.5M in Series A funding
Kodiact, an intelligent simulation platform for direct materials sourcing, raised $2.5M in Pre-Seed funding
CareLumi, a verification layer platform for healthcare AI, raised $2.5M in Pre-Seed funding
Wrapped Health, an AI-native digital infrastructure platform connecting clinical care with consumer health, raised $2.1M in Pre-Seed funding
Doughy, a cookie dough brand, raised an undisclosed amount in funding
CRYPTO
BULLISH BITES
🚨 Move your money here before November 30th. *
🇺🇸 Final polls, models and markets see a "blue tsunami."
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DAILY SHARES
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