Stock market today: Dow, S&P 500, Nasdaq trade mixed as post-election relief rally cools, oil falls
Stock market today: Dow, S&P 500, Nasdaq trade mixed as post-election relief rally cools, oil falls
Grace O'DonnellThu, November 5, 2026 at 9:05 AM UTC
0
US stock futures split as the crosscurrents of a power shift in Washington, the war in Iran, earnings, and labor market data overlapped. Oil prices and Treasury yields fell, offering some upward support to stocks.
Futures on the Dow Jones Industrial Average (YM=F) rose 0.4% after the blue-chip index roared back on Wednesday following the US midterm election results. Meanwhile, futures on the S&P 500 (ES=F) fell 0.1% and contracts for the Nasdaq-100 (NQ=F) dropped 0.7%.
Investors continued to process the Democrats' sweeping victory on Tuesday and its implications for markets and the economy. As the stock market sorts out the perceived winners and losers of a regime change on Capitol Hill, one thing is clear: The market breathed a sigh of relief at the removal of overhanging election uncertainty.
Advertisement
Oil prices continued their descent amid hopes that President Trump would pursue a deal with Iran to end the war in the Middle East. Optimism grew overnight after Vice President JD Vance said, "The reason we lost [the midterm elections] is the war," in a post on X suggesting the party should push for a resolution to the conflict. Brent crude oil (BZ=F) prices declined to $94 per barrel, while US benchmark WTI crude (CL=F) dropped to $88 per barrel.
Initial jobless claims and a report from Challenger, Gray & Christmas will provide a fresh look at whether layoffs picked up in October, setting the scene for Friday's key employment report.
On the earnings calendar, Duke Energy (DUK), Airbnb (ABNB), and Lumentum (LITE), among others, report results.
Source: “AOL Money”
