US Pre-Market 5 November 2026: Nasdaq 100 Futures -0.64% as Chip Stocks Fall Again; Qualcomm -8.77%, AppLovin +19.45%
Sentiment: mixed S&P 500 futures: +0.13%
Nasdaq 100 futures are -0.64%, S&P 500 futures +0.13% and Dow futures +0.49% at 7:22am ET on 5 November 2026, as chip and data center stocks fall for a second day after the Democratic midterm win. QCOM.US is -8.77% after handset chip revenue fell 26% to $5.137 billion. Brent is +2.37% at $96.86 after settling Wednesday at $94.62, and weekly jobless claims are due at 8:30am ET.
Overnight drivers
- Data centers: UBS strategists said about 30% of expected 2028 data center additions are now at risk, per Reuters. HPE.US -5.01%, CRWV.US -3.66%, VRT.US -3.58%, DELL.US -3.55% and GEV.US -2.97%.
- Chip stocks: SMH.US -2.84% to $489.93, below a 200-day average of $521, per Hammerstone Markets. AMAT.US -4.30%, MRVL.US -4.28%, LRCX.US -4.14%, AMD.US -3.80% and NVDA.US -1.30%.
- Memory: Bloomberg reported that Micron suspended plans for a $4.5 billion Taiwan plant over a labor dispute. Micron told Bloomberg its Taiwan operations "continue as normal". SKHY.US -5.66%, SNDK.US -5.51% and MU.US -3.84%.
- Large tech: AMZN.US +1.68%, GOOGL.US +1.32%, META.US +1.11% and AAPL.US +0.77%. Reuters said investors see a slower AI buildout helping these companies. Amazon also added Uber Eats ordering for Prime members; UBER.US +3.03%.
- Musk names: SPCX.US -2.18% and TSLA.US -2.06%. Reuters noted that Elon Musk spent nearly half a billion dollars backing Republican candidates.
- Oil and Iran: Brent +2.37% to $96.86 and WTI +1.55% to $89.49, after both benchmarks fell more than 8% on Wednesday to their lowest settle since 31 August, per Reuters. Axios reported that the US military is finishing preparations for a possible return to major combat in Iran, while Qatar seeks backing for a draft agreement, per Benzinga. XOM.US +1.20%.
- Rates: the Bank of England voted 8 to 1 to raise its rate 25 bps to 4%, its first hike since 2023, and warned that at least one more is likely if the US-Iran conflict continues, per Reuters. The 10-year Treasury yield closed Wednesday at 4.894%; Benzinga showed 4.87% at 5:30am ET. Reuters said markets price another Fed hike next month.
- Metals and dollar: December gold +1.59% to $4,137.80, silver +0.72% to $52.66, DXY -0.03% at 101.54.
Pre-market advancers lead decliners 222 to 109 among large caps at 7:31am ET. RSP.US, the equal-weight S&P 500 fund, is +0.48% against SPY.US +0.08% and QQQ.US -0.69%.
Overnight Asia and Europe
South Korea's KOSPI closed -5.28% at 5,383.80 on 5 November 2026, with Samsung Electronics -7.57% and SK hynix down more than 9%, as foreign investors sold about 3.39 trillion won of shares, per FourWeekMBA and CNBC. UPI tied the fall to concern over tighter AI regulation after the US vote.
Taiwan's Taiex closed -3.20% at 41,574.72 and the Nikkei -1.79% at 61,077.90. The Hang Seng closed +3.67% at 24,796.98 and Shanghai +0.10% at 3,689.91. BABA.US is +5.08% in New York; CNBC reported gains for Alibaba and Tencent in Hong Kong.
The STOXX 600 is +0.53% at 660.91 at 7:17am ET, with the DAX +0.63% at 26,603.87 and the FTSE 100 +0.67% at 10,901.75.
Pre-market movers
SEZL.US leads the names below at +27.25% at 7:32am ET on 5 November 2026, and MNTN.US falls furthest at -45.35%.
| Ticker | Pre-market | Reason |
|---|---|---|
| SEZL.US | +27.25% | Q3 revenue +42.6% to $166.5 million; 2026 guidance raised |
| RUN.US | +24.57% | Direct business installations +9% in Q3 |
| APP.US | +19.45% | Q4 revenue guide $2.365 billion to $2.395 billion against $2.251 billion; buyback +$3.2 billion |
| EPAM.US | +16.86% | Added $1.5 billion to its buyback, with $500 million accelerated |
| TPR.US | +11.59% | Coach revenue +16% to $1.66 billion; full-year EPS guide raised to $8.25 to $8.35 |
| TM.US | +8.77% | Full-year profit forecast raised to 3.57 trillion yen; up to $89 billion for shareholders |
| SONY.US | +5.44% | Operating profit forecast raised 150 billion yen to 1.87 trillion yen |
| ARM.US | -4.96% | Q2 revenue $1.44 billion against $1.38 billion; Q3 guide $1.54 billion against $1.53 billion |
| BDX.US | -5.83% | Q4 beat; fiscal 2027 outlook in line with estimates |
| EXPE.US | -6.92% | Q4 revenue guide midpoint below the $3.74 billion estimate |
| HUBS.US | -8.73% | Q4 revenue guide $945 million to $947 million against $964.9 million |
| QCOM.US | -8.77% | Handset revenue -26% to $5.137 billion; automotive revenue +89% to $1.99 billion |
| AMCR.US | -9.28% | Q1 adjusted EPS $0.95 against $0.99; energy and distribution costs rose |
| SNAP.US | -9.31% | Q3 revenue $1.722 billion against $1.731 billion |
| BROS.US | -13.91% | Q3 revenue $549.83 million against $547.4 million; annual revenue guide below estimates |
| ZG.US | -14.92% | Q3 revenue $724 million against $754.28 million; net loss |
| MNTN.US | -45.35% | 2026 revenue forecast cut to $311 million to $314 million; new chief executive |
US economic calendar today (ET)
Challenger, Gray & Christmas counted 43,994 announced job cuts for October in its 5 November 2026 report, down 71% from a year earlier, per Yahoo Finance.
- 8:30am: initial jobless claims for the week ended 31 October, about 196,000 expected against 194,000 prior.
- 8:30am: continuing claims, 1.71 million expected against 1.701 million prior.
- 8:30am: third-quarter productivity and unit labor costs, preliminary.
- 8:50am: Cleveland Fed President Beth Hammack speaks. Reuters counts at least three Fed speakers today, including Richmond's Thomas Barkin.
- 10:30am: EIA weekly natural gas inventories.
Wednesday on Wall Street
The S&P 500 closed at 7,688.62 on 4 November 2026, up 1.58%, after Democrats won the House and Senate and Brent fell almost 8.7%.
- S&P 500: 7,688.62 (+1.58%)
- Nasdaq: 25,736.51 (+1.44%)
- Dow: 53,356.12 (+3.03%)
- Russell 2000: 2,856.95 (+1.58%)
- VIX: 16.61 at the close, now 16.74
Russell 2000 futures are +0.38% this morning.
What to watch
- Thu 5 Nov, 8:30am ET: jobless claims and productivity, one session before the October jobs report.
- Thu 5 Nov, before the open: COP.US, DUK.US and SO.US are on the earnings calendar.
- Thu 5 Nov, after the close: ABNB.US, LITE.US, NET.US, EOG.US and MNST.US results. NET.US is -4.00% and LITE.US -3.49% before the reports.
- Fri 6 Nov, 8:30am ET: October employment report.
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