US Pre-Market 4 November 2026: Dow Futures +1.66% After Democrats Win Congress; Datadog -16.54%, Amdocs -38.09%, AMD +2.50%
Sentiment: mixed S&P 500 futures: +0.93%
S&P 500 futures are +0.93%, Nasdaq 100 futures +0.38% and Dow futures +1.66% at 7:35am ET on 4 November 2026, after Democrats won control of the House and Senate and futures reversed overnight losses of 1% to 2.5%, per Investing.com. DOX.US is -38.09% on its fiscal 2027 forecast and DDOG.US -16.54% on its fourth-quarter revenue guide. VST.US -6.18% and GEV.US -6.32% trail after Texas elected a governor who has pledged a moratorium on new data centers.
Overnight drivers
- Midterms: Investing.com put Democrats at 228 House seats and a projected 54 of 100 Senate seats at 6:02am ET, with two Senate races uncalled and at least seven seats flipped. Democratic support is needed to pass legislation from January, and President Trump keeps his veto.
- Data centers: Democrat Gina Hinojosa won the Texas governor's race, called by AP at 11:17pm ET. Texas holds more than 25% of planned US data center capacity by 2030, per Yahoo Finance. GEV.US -6.32%, VST.US -6.18%, VRT.US -5.93%, CRWV.US -5.84%, PWR.US -5.17%, ETN.US -4.01% and CEG.US -3.95%. KBW downgraded CIFR.US and CleanSpark after the result; CIFR.US -14.41% after +18.37% on Tuesday.
- Musk and Trump-linked names: TSLA.US -5.72%, SPCX.US -5.74% and DJT.US -11.43%. Business Insider tied the first two to Elon Musk's backing of Republican candidates.
- Renewables and hospitals: TAN.US +6.95%, FSLR.US +7.31%, RUN.US +6.11% and ENPH.US +4.04%. HCA.US +6.73%, MOH.US +5.86% and CNC.US +5.19%, with UNH.US -1.24%. CNBC tied both groups to Democratic control of Congress.
- Defense: LMT.US -4.08%, NOC.US -3.48% and RTX.US -3.45%.
- Metals, dollar and oil: December gold +2.86% to $4,052.90 and silver +4.67% to $52.08. DXY -0.55% to 101.30. NEM.US +5.72% and AEM.US +5.96%. WTI -1.43% to $94.72, and Business Insider put Brent below $102.
- Rates: the 10-year Treasury yield closed Tuesday at 4.95%, and Business Insider showed about 4.93% at 5:55am ET. VIX 18.46, -11.38%.
Morningstar's Michael Field said on 4 November that investors are "understandably concerned" about AI regulation and are overlooking the effect of any Middle East easing on inflation and rates, per Business Insider.
Overnight Asia and Europe
The STOXX 600 is +1.42% at 654.85 at 7:35am ET on 4 November 2026, with the DAX +1.39% at 26,223.86 and the FTSE 100 +1.36% at 10,783.36.
Shanghai closed +2.16% at 3,686.17, the Hang Seng +1.67% at 23,919.50 and the KOSPI +0.62% at 5,683.80. The Nikkei closed -1.42% at 62,188.63 and Taiwan's Taiex -0.83% at 42,948.91.
Pre-market movers
DUOL.US leads the names below at +16.91% at 7:35am ET on 4 November 2026, and DOX.US falls furthest at -38.09%.
| Ticker | Pre-market | Reason |
|---|---|---|
| DUOL.US | +16.91% | Q3 revenue $309.01 million; daily users +29%; Q4 forecast $322 million against $314.55 million |
| XYZ.US | +10.44% | Q3 adjusted EPS $1.13 against $1.02; 2027 gross profit guide $14.5 billion |
| ANET.US | +6.88% | Q3 revenue +58.5% to $3.66 billion against $3.335 billion |
| NVO.US | +6.09% | Adjusted operating profit +27% at constant currency; 2026 outlook raised |
| SMCI.US | +4.97% | Fiscal 2027 revenue guide raised to $72 billion to $82 billion |
| AMGN.US | +2.54% | Q3 EPS $6.45 against $5.74; 2026 outlook raised |
| AMD.US | +2.50% | Q4 revenue guide about $17 billion against $16.2 billion |
| MCD.US | +2.25% | Q3 adjusted EPS $3.57 against $3.40; revenue $7.16 billion missed $7.29 billion |
| UBER.US | +1.23% | Q3 gross bookings +20% to $59.8 billion; Q4 EPS guide $0.95 to $0.99 |
| CVS.US | -2.55% | Split into two companies; 2026 adjusted EPS guide raised to at least $8.20 |
| EMR.US | -5.63% | Fiscal Q4 adjusted EPS $1.86 against $1.85; 2027 sales growth guide about 5% |
| SWKS.US | -12.76% | Q1 revenue guide $1.80 billion to $1.90 billion against about $1.99 billion |
| SEDG.US | -13.90% | Q4 revenue guide $245 million to $275 million after Q3 at $326.1 million |
| DDOG.US | -16.54% | Q4 revenue guide $1.19 billion to $1.20 billion against $1.2 billion |
| DOX.US | -38.09% | Fiscal 2027 revenue guide cut on a T-Mobile US contract dispute |
Among the 400 largest US-listed names, 359 showed a pre-market price at 7:34am ET: 264 higher, 93 lower and 2 flat. AMZN.US +3.71%, MSFT.US +1.97%, AAPL.US +1.06% and NVDA.US +0.16%; SOXX.US -0.10%, MU.US -1.37%, ORCL.US -4.18% and PLTR.US -3.93%.
AMD, Datadog and Amdocs
AMD.US is +2.50% at 7:35am ET on 4 November 2026, after CNBC reported +8% in extended trading on Tuesday. Third-quarter adjusted EPS was $2.09 against $1.95 expected and revenue $13.38 billion against $13.09 billion, per LSEG via CNBC. The company expects 2027 revenue growth above 80%, against 77% expected, per Reuters data. Warrants tied to OpenAI and Meta produced a non-cash charge of more than $1 billion in the quarter.
DDOG.US beat on the third quarter, with adjusted EPS of $0.81 against $0.64 and revenue +35% to $1.20 billion against $1.14 billion. The fourth-quarter revenue guide midpoint of $1.195 billion sits below both the $1.2 billion consensus and the third-quarter figure, per Investing.com.
DOX.US guided fiscal 2027 revenue to $3.856 billion to $4.025 billion against $4.845 billion expected, and adjusted EPS to $5.19 to $5.48 against $8.08, per Benzinga. Amdocs and T-Mobile US have each issued notices alleging material breach and threatening termination, financial claims or arbitration. CEO Shimie Hortig called the expected revenue fall from that customer "a major reduction" and did not give a figure.
US economic calendar today (ET)
Four scheduled releases on 4 November 2026 run from 8:15am to 10:00am ET, led by ADP private payrolls, with 69,000 expected against 90,000 in September.
- 8:15am: ADP employment for October, +69,000 expected against +90,000 prior.
- 8:30am: September international trade, -$108.0 billion expected against -$105.6 billion prior. Treasury's quarterly refunding details follow at the same time.
- 9:45am: S&P Global services and composite PMI finals for October, 57.9 and 57.6 prior.
- 10:00am: ISM services for October, 54.7 expected against 54.9 prior.
Tuesday on Wall Street
The S&P 500 closed at 7,568.92 on 3 November 2026, up 0.36%, as XLK.US gained 1.31%.
- S&P 500: 7,568.92 (+0.36%)
- Nasdaq: 25,372.01 (+0.83%)
- Dow: 51,786.72 (-0.38%)
- Russell 2000: 2,812.45 (+0.23%)
- VIX: 20.83 at the close, now 18.46
Russell 2000 futures are +1.35% this morning.
What to watch
- Wed 4 Nov, 8:15am to 10:00am ET: ADP, trade, Treasury refunding details and ISM services.
- Wed 4 Nov, 10:30am ET: EIA weekly inventories, with WTI -1.43%.
- Wed 4 Nov, after the close: QCOM.US, DASH.US, APP.US and MELI.US results. ARM.US also reports today.
- Fri 6 Nov, 8:30am ET: October employment report.
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