Pre-market briefing Pre-market Briefing, November 5, 2026
Today at a Glance
Yesterday's Summary
Yesterday, New York stocks rose sharply as the market digested the midterm election results. The Dow Jones Industrial Average rose 3.03%, the S&P 500 rose 1.58%, and the Nasdaq rose 1.44%. Consumer discretionary, financial, and communication sectors led the market, while the energy sector fell 4.74% following a sharp drop in oil prices.
Current Market Sentiment
Risk appetite remains alive, but there is a significant divergence in sentiment. The preference for cyclical stocks that began after the midterm elections continued for a second day, pushing up Dow futures. On the other hand, buying pressure on semiconductor stocks was suppressed as disappointing guidance from Qualcomm and ARM was confirmed. The market is reacting to expectations that a divided government will curb fiscal spending. Sector differentiation is expected to continue until Airbnb's earnings tonight provide insight into consumer trends.
Pre-Market News Roundup
Today's Events
Macro Schedule
The expected value is 190,000, and the previous value was also 190,000. This is a weekly indicator showing how much the labor market is cooling. If claims significantly exceed expectations, expectations for interest rate cuts will increase, which is favorable for growth stocks; conversely, if they fall below expectations, the burden of interest rates may resurface.
Ex-Dividend Date
Stocks to Watch
Nvidia faces pressure from growing discussions regarding data center construction regulations following the Democrats' control of both houses. It is necessary to monitor whether capital outflow from AI infrastructure continues. ASML is linked to the trend of shaken semiconductor capital expenditure sentiment following Qualcomm's weak guidance. As semiconductor equipment stocks were weak in European markets, warmth may spread to domestic semiconductor stocks. JPMorgan is a representative beneficiary of capital shifting toward cyclical and financial stocks following the election. Expectations that a divided government will prevent excessive fiscal spending have acted favorably for financial stocks by lowering interest rate and policy uncertainty.
Today's Action Guide
We hope you continue to monitor the market calmly today.
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