Election Week Begins, Apple and Palantir Earnings Ahead
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Stocks fell Friday as disappointing tech earnings deepened worries about whether the huge sums being spent on artificial intelligence will pay off. The Nasdaq dropped 2.9%, the S&P 500 lost 1.8%, and the Dow fell 1.1%.
Intel plunged 28.6% after issuing a weaker-than-expected outlook, while Amazon’s report added to concerns about heavy AI spending. The selling spread across chipmakers, with Nvidia down 4.2% and AMD falling 10.9%.
Today’s Focus: Manufacturing data and another round of technology earnings open a busy week that includes Tuesday’s midterm elections and Friday’s October jobs report.
The Institute for Supply Management releases its October manufacturing survey at 10 a.m. ET. The report’s measures of new orders, employment and prices will help show whether factories are gaining momentum and how much cost pressure businesses are facing.
Apple and Palantir are scheduled to report after the closing bell, offering another test of investor confidence following last week’s tech selloff. Their results will give investors fresh evidence on consumer demand and corporate spending on AI.
The week’s economic reports will also provide a broader picture of hiring, business activity and household confidence. September job openings arrive Tuesday, followed by the ISM services survey Wednesday and October payrolls Friday.
ON THE SCHEDULE FOR THE WEEK OF MONDAY, NOVEMBER 2, 2026
-9:45 a.m. ET – October S&P Global U.S. manufacturing PMI, final reading
-10 a.m. ET – October ISM manufacturing PMI and September construction spending
-3 p.m. ET – Treasury quarterly borrowing estimates
-After the close – Apple and Palantir earnings
-Tuesday – U.S. midterm elections
-Tuesday, 10 a.m. ET – September job openings and factory orders
-Tuesday, after the close – AMD earnings
-Wednesday, 10 a.m. ET – October ISM services PMI
-Wednesday, 8:30 a.m. ET – Treasury quarterly refunding announcement
-Thursday, 8:30 a.m. ET – Weekly jobless claims
-Friday, 8:30 a.m. ET – October employment report
-Friday, 10 a.m. ET – Preliminary November University of Michigan consumer sentiment
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