Market Close: Stocks Mixed, AMD Pops on Results, Job Openings Rise • 11/3/26

0:00See NBC Business News Update. I'm Jessica Ettinger. Wall Street opens Wednesday morning after a mixed election day of trading on Tuesday. Apple dragged the Dow lower, but chip stocks popped, helping the Nasdaq. Investors will spend time over the next few days examining election results and how that may impact their money. The Dow fell 197 points on Tuesday. It was led lower by Sherwin-Williams shares, down 3%. The S &P 500 index up 27. The Nasdaq was up 207 points. That was eight-tenths of 1%. The Nasdaq 100 is still in correction, though, down 10 % from its October high. Chipmaker AMD reported strong quarterly results after the closing bell.

0:47Shares popped 5 % on first reaction in after-hours trading ahead of the earnings call. Better than expected results also from booking holdings. Drug maker Amgen was out with better results than forecast, but its full year outlook for adjusted earnings was lighter than expected. Stock didn't do much in after hours trading. Investors have been all about AI, but how will the election results impact that? Here's a take from Morgan Stanley's Ariana Salvatore on CNBC. If you see, by and large, Republicans hold control, that's bullish for AI sentiment. By and large, conversely, if Democrats were to sweep, take both the House and the Senate, that's probably a negative.

1:25Depending on the ultimate outcome of the election, U.S. bank and bank investors are bracing for possible change. Here's CNBC's Leslie Picker. Since the 2024 election, almost every large American bank has outperformed the S &P's 32 percent gain over that time period. That comes amid two years of deregulation. Several banking CEOs have described the current backdrop for the industry as being, quote, as good as it gets. JetBlue raising bag fees for the third time in a year. Airlines are regularly raising ticket prices, all as jet fuel costs soar, a result of the U.S. war with Iran. Disney is expected to slash thousands of jobs.

2:08This is according to people familiar with the matter, as first reported by Bloomberg. It would be the latest round of job cuts since Josh DeMauro became CEO earlier this year. Managers at Disney are reportedly being asked to cut their budgets by as much as 20 percent. Apple shares fell 2 percent Tuesday after quarterly results and concerns that margin is shrinking. It was Apple's third down day in a row. More open jobs in the U.S. last month and the new JOLTS report on job opportunity and labor turnover. Here are CNBC's Sarah Eisen and Carl Quintanilla. Tania. 7.5 million looking for about 7.1 prior 7.1 as well.

2:48So a little bit of acceleration in jolts. Factory orders, 1.8 pretty much in line. Now we just need to see job creation because that's kind of been the missing piece. It's been a little more sluggish, although you could chalk that up to the fact that the immigration policies have completely changed. And so there's just not as many workers available as we've had in recent years. Binance said hackers used fake job interviews, malicious software, and compromised internal AI tools to infiltrate its wallet infrastructure, leading to the record-breaking October 29th cyber attack that resulted in more than$6 billion in assets being stolen from the world's largest crypto exchange.

3:27You can see the full interview with the Binance CEO at CNBC.com and on the CNBC app on your phone. On Wednesday's watch list. We get earnings from McDonald's, Qualcomm, CVS Health, Kraft Heinz Kava, and Novo Nordisk. We also get private company job hiring numbers from ADP and Wednesday night's Powerball jackpot,$835 million. Jessica Ettinger, CNBC. This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Schwab Market Update, an original podcast from Charles Schwab provides an information-packed daily market preview on stock updates, U.S. and global economic news, monetary policy decisions, and key results and statistics that may impact your trading.

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