The New York Stock Exchange on Wall Street (file photo; not from today’s trading). Photo: Mike Peel, Wikimedia Commons, CC BY-SA 4.0.
U.S. stocks opened mixed on Thursday, Nov. 5, 2026, as the Dow Jones Industrial Average extended Wednesday’s post-election surge while chip and data-center names pulled the Nasdaq Composite lower. As of the opening prints reported by Reuters at about 9:37 a.m. ET, the Dow was up 330.63 points, or 0.62%, to 53,686.75, the S&P 500 was down 12.86 points, or 0.17%, to 7,675.76, and the Nasdaq Composite was down 198.95 points, or 0.77%, to 25,537.57.
Futures set a split open after Wednesday’s rally
Equity futures had already flagged the split session. At 8:24 a.m. ET, Reuters reported Dow E-minis up 327 points, or 0.61%, S&P 500 E-minis up 7.75 points, or 0.1%, and Nasdaq 100 E-minis down 222.25 points, or 0.78%. That setup followed Wednesday’s relief rally after Democrats won control of both chambers of Congress in the midterm elections. The Dow closed Wednesday up 1,569.40 points, or 3.03%, at 53,356.12, the S&P 500 rose 1.58% to 7,688.62, and the Nasdaq Composite gained 1.44% to 25,736.51, according to The Boston Report’s Nov. 4 business report citing CNBC closing figures.
Thursday’s open kept blue chips in the lead while technology lagged. Yahoo Finance reported that American Express, Goldman Sachs, JPMorgan Chase, Visa, Walmart and Home Depot each rose more than 1% in premarket trading. Semiconductor and AI-infrastructure names moved the other way: Reuters said Qualcomm fell 11.2% before the bell after a soft smartphone-chip outlook, Nvidia was down 1.5%, Marvell Technology was off 4.5%, and Intel slipped 2.3%. Dell dropped 5.3%, and data-center operators including IREN, Hut 8 and Applied Digital each fell more than 4%, Reuters reported.
By the numbers: open vs. Wednesday’s close
TBR calculations from Reuters’ opening prints and Wednesday’s closes show how uneven the handoff was. The Dow’s 330.63-point open gain was about one-fifth the size of Wednesday’s 1,569-point advance, yet it still pushed the index above 53,600. The S&P 500 gave back roughly 11% of Wednesday’s 119.71-point rise in the first prints. The Nasdaq Composite’s 198.95-point open drop erased about 54% of Wednesday’s 364.66-point gain, based on the same closing levels.
Jobless claims fall; Fed speakers and Friday’s jobs report loom
The labor tape offered a firm backdrop for risk assets. The U.S. Department of Labor’s Employment and Training Administration said that for the week ending Oct. 31, seasonally adjusted initial unemployment claims were 189,000, down 6,000 from the prior week’s revised level of 195,000. The prior week was revised up by 1,000 from 194,000. The four-week moving average fell 2,250 to 194,750. CNBC said the 189,000 print came in below a 197,000 Dow Jones forecast.
Markets are now focused on Friday’s October employment report. Economists polled by Dow Jones expect a gain of 59,000 jobs, according to CNBC, after September’s weaker-than-expected rise of 29,000 and an unemployment rate of 4.2%. At least three Federal Reserve officials were scheduled to speak Thursday, including Richmond Fed President Thomas Barkin, Reuters reported, keeping attention on the path for interest rates after the Fed’s September hike and market pricing for another move in December.
Yields steady near 4.90%; oil rebounds after Wednesday’s plunge
Treasury yields were little changed after Wednesday’s sharp drop. CNBC reported the 10-year yield more than 1 basis point higher at 4.904% in morning trade, the 2-year up more than 3 basis points to 4.616%, and the 30-year up less than 1 basis point at 5.284%. Wednesday’s 10-year yield had fallen about 6 basis points into the close, CNBC said, as investors weighed a divided government and a weaker path for oil.
Crude was bouncing after a heavy selloff. Reuters said Brent futures were up more than 2.8% Thursday after dropping more than 8% Wednesday. Yahoo Finance put WTI near $89.50 a barrel, up about 1.5%, after an 8% plunge in the prior session as traders debated what a Democratic Congress means for the Iran war and Middle East supply risk. Gold futures were up about 1.4% near $4,130 an ounce and bitcoin traded near $79,600, Yahoo Finance reported in the same premarket wrap.
What traders are watching next
Beyond the index tape, single-stock news was loud. AppLovin jumped 21.6% after beating third-quarter profit estimates, while Fair Isaac fell 10% and Snap fell 10.2% after missing estimates, Reuters said. Large-cap platforms Amazon, Meta and Alphabet were higher by about 1% to 2.2% in premarket trade as investors debated a slower AI buildout, according to the same Reuters report. SpaceX and Tesla were each down more than 2%.
For Wall Street, the session is a test of whether Wednesday’s breadth can hold once the election relief fades. The open already shows a familiar pattern: financials and consumer names supporting the Dow, while semiconductors and data-center equities keep a lid on the Nasdaq. Friday’s payrolls print, plus any further guidance from Fed speakers, will set the tone into next week’s calendar. Investors can also track broader U.S. economy readings as unit labor costs and productivity data from Thursday’s 8:30 a.m. ET slate work into the afternoon.
Futures had already previewed this rotation in overnight trading after the midterm results, a theme covered in The Boston Report’s earlier note on stock futures after Democrats’ sweep of Congress. Thursday’s cash open confirmed that the Dow can keep grinding higher even as the tech complex digests weaker chip guidance and political risk around AI infrastructure.
Sources
- Reuters via StreetInsider — Nasdaq falls at open; Dow, S&P and Nasdaq opening prints (Nov. 5, 2026, 9:37 a.m. ET)
- Reuters via Investing.com — futures at 8:24 a.m. ET; Qualcomm and chip movers
- U.S. Department of Labor, Employment and Training Administration — Unemployment Insurance Weekly Claims Report (Nov. 5, 2026)
- CNBC — Treasury yields and jobless claims context (Nov. 5, 2026)
- Yahoo Finance — premarket futures, sector movers, oil and gold (Nov. 5, 2026)
Additional sources
- The Boston Report — Business Report: Dow soars 1,569 points (Nov. 4, 2026 closes)
- MNI — Thursday calendar: claims, unit labor costs, Fed speakers
- Economic calendar snapshot for Nov. 5, 2026 (claims, Fed speakers, BOE)
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