Business · Markets · 2 hrs ago
Big Tech gains lift S&P 500 as Apple and the Dow fall
The S&P 500 rose 0.4% on Tuesday, helped by gains in some of the biggest technology companies.
Nvidia, Broadcom, Microsoft, Amazon and Meta all rose, supporting the market despite declines in most S&P 500 stocks.
The Dow fell 0.4% while the Nasdaq gained 0.8%, showing how uneven trading was.
Apple shares dropped 1.9% after the company said higher memory-chip costs would reduce its profit per dollar of revenue in the final three months of the year, despite better-than-expected quarterly results.
AI-related stocks have been swinging as investors worry that prices rose too far during the boom, and the U.S. midterm elections also brought attention to possible changes in AI regulation.
Past midterm elections have been followed by six months of S&P 500 gains, according to an analyst cited in the report, but that history does not guarantee what happens next.
The S&P 500 rose 0.4 per cent on Tuesday as gains in influential technology stocks outweighed declines in most index stocks.
Nvidia rose 2.3 per cent, while Broadcom gained 3.1 per cent and Microsoft, Amazon and Meta Platforms each rose more than 2 per cent.
The Dow Jones Industrial Average fell 197 points, or 0.4 per cent, while the Nasdaq composite climbed 0.8 per cent.
Apple shares dropped 1.9 per cent after the company warned that higher memory-chip costs would reduce its profit margin in the final three months of the year.
The market’s moves came as voters cast ballots in U.S. midterm elections, with the cost of living and AI among the issues crossing party lines.
- Who
- U.S. stock market investors and companies, including Nvidia, Apple and other major technology firms.
- What
- The S&P 500 rose as technology stocks gained, while Apple and the Dow fell.
- When
- Tuesday. The article was published on November 4, 2026.
- Where
- The U.S. stock market.
- Why
- Gains in influential Big Tech stocks supported the S&P 500. Apple fell amid higher memory-chip costs that the company said would reduce its profit margin.
This story does not have two clearly opposing sides.
Several influential AI-related stocks moved from gains in the morning to losses in the afternoon.
Nvidia and other major technology stocks rose, lifting the S&P 500 as Apple and the Dow declined.
Voters cast ballots in U.S. midterm elections.
- S&P 500
- Rose 0.4 per cent to 7,568.92
- Dow Jones Industrial Average
- Fell 197.26 points, or 0.4 per cent, to 51,786.72
- Nasdaq composite
- Rose 207.65 points, or 0.8 per cent, to 25,372.01
- Nvidia
- Rose 2.3 per cent
- Apple
- Fell 1.9 per cent
What people are saying
end market conditions are continuing to improve