Monday, Nov. 2, 2026 · Market close 4:00 p.m. ET · By Juan Reina · Data delayed ~15 minutes.
Key takeaways
- Another failed rally: the Nasdaq rose as much as 1.4% in the morning before closing down 1.07%; the S&P 500 flipped from +1% to −0.51%.
- Nasdaq 100 near correction: it closed roughly 10% below its Oct. 6 record.
- Tech selling, value buying: Oracle −8.8% on a stock-and-bond raise, Marvell −12.7% and Lumentum −18.6% on their merger, Intel −8.8%, AMD −7.5%. Consumer discretionary (+2.4%) and financials (+1.9%) led.
- Oil plunged: Brent −7.6% to $104.77 on hopes for U.S.–Iran diplomacy — good news at the pump, bad for energy stocks (XLE −4%).
- After hours: Apple −2.7% on a soft margin outlook; Palantir −2.9% despite 96% revenue growth.
Index scorecard
| Index | Close | Day | Intraday high | YTD |
|---|---|---|---|---|
| S&P 500 | 7,541.40 | −0.51% | 7,662.23 | +9.6% |
| Nasdaq Composite | 25,164.32 | −1.07% | 25,799.46 | +7.2% |
| Nasdaq 100 | 27,989.82 | −1.39% | 28,753.39 | +9.7% |
| Dow Jones | 51,983.98 | +0.41% | 52,424.91 | +8.1% |
| Russell 2000 | 2,805.88 | −0.21% | 2,846.03 | +12.6% |
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Open TradingView → · Affiliate linkWhy tech sold off again
- Oracle (ORCL −8.76%) plans to raise about $20 billion — roughly $10 billion in investment-grade bonds and a similar amount in new stock — to fund AI buildout. Dilution plus leverage spooked holders.
- Marvell (MRVL −12.72%) / Lumentum (LITE −18.59%): Marvell will pay 4.5 shares per Lumentum share, valuing the target near $115 billion with debt — about $771 a share at Monday’s close.
- Chips: SMH −2.71%. AMD reports Tuesday after the bell; Intel is still digesting a weak outlook.
- Rates: with fed funds at 3.75%–4.00%, futures price about a 76% chance of a December hike (CME). ISM manufacturing beat at 55.5 vs. 54.5 expected — strong data keeps pressure on yields.
Sector performance
Fundamentals, charts, valuation and side-by-side comparisons of stocks, ETFs and funds worldwide, including Colombian ADRs. There is a free plan to start.
Try Koyfin → · Affiliate linkBiggest movers
| Stock | Close | Change | Why |
|---|---|---|---|
| IDEXX (IDXX) | $671.64 | +21.85% | Raised 2026 guidance |
| United Airlines (UAL) | $109.24 | +4.80% | Cheaper jet fuel |
| Home Depot (HD) | $341.15 | +3.63% | Rotation into consumer names |
| Amazon (AMZN) | $245.63 | +2.20% | Rotation within megacaps |
| Lumentum (LITE) | $684.40 | −18.59% | All-stock deal with Marvell |
| Marvell (MRVL) | $171.41 | −12.72% | Acquirer |
| Intel (INTC) | $59.97 | −8.80% | Chip selling |
| Oracle (ORCL) | $119.22 | −8.76% | Equity + debt raise |
| AMD | $466.84 | −7.52% | Reports Tuesday |
| Exxon (XOM) | $179.67 | −4.05% | Oil plunge |
Oil, yields and the Fed
Brent fell 7.6% to $104.77 and WTI ended near $96.7 after reports that the White House wants to give diplomacy with Iran another chance. Lower crude helps airlines and consumers but hit Exxon (−4.05%) and Chevron (−3.29%). The 10-year Treasury yield eased to 4.91%. Gold held near $3,955 and bitcoin traded around $77,140.
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Apple and Palantir after the bell
Apple posted revenue of $114.5 billion (+12%), but a softer December-quarter gross-margin forecast sent shares down about 2.7% after hours. Palantir grew revenue 96% to $2.313 billion and raised 2026 guidance, yet slipped about 2.9% in extended trading — a sign of how high expectations are for AI winners.
What it means for your 401(k) or IRA
If your retirement account tracks the S&P 500, Monday cost about half a percent; it’s still up roughly 9.6% this year. Tech-heavy funds (Nasdaq 100/QQQ) are down closer to 10% from their peak, while equal-weight and value funds held up better. Diversification across sectors softened the blow — the Dow actually rose. This is information, not a recommendation to buy or sell.
Colombia angle
Colombia’s stock exchange was closed for the All Saints’ Day holiday. In New York, Ecopetrol (EC) fell 5.93% to $16.17 as oil slid, while Grupo Cibest (CIB) was flat at $92.07 and the COLO ETF edged up 0.06%. The peso weakened offshore to about 3,227 per dollar. See the Colombia market outlook for Tuesday.
FAQ
How did the stock market close on Nov. 2, 2026?
The S&P 500 fell 0.51% to 7,541.40, the Nasdaq dropped 1.07% to 25,164.32 and the Dow rose 0.41% to 51,983.98.
Why did Oracle stock fall today?
Oracle dropped 8.76% after announcing a roughly $20 billion raise in bonds and new stock to fund AI spending.
Why did Marvell and Lumentum fall?
Marvell agreed to buy Lumentum in an all-stock deal (4.5 MRVL shares per LITE share). Marvell fell 12.72% and Lumentum 18.59%.
Why did oil prices drop?
Brent fell 7.6% to $104.77 on hopes of renewed U.S.–Iran diplomacy.
Is the Nasdaq in a correction?
The Nasdaq 100 closed about 10% below its Oct. 6 record, right at the conventional correction threshold.
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