Market Midday: Stocks Higher, Oil Falls, Midterm Elections Tomorrow • 11/2/26

0:00See NBC Business News Update Market Midday. I'm Jessica Ettinger. Wall Street is in the green on this first trading day of November. The Nasdaq 100 notched a losing month last month. It's worst in a year. The Dow's up this afternoon 421 points. Sherwin-Williams shares leading at higher. They're up almost 5%. Sherwin-Williams makes paint. Oil prices are lower. So Sherwin-Williams is benefiting. The S &P 500 index up 14 points. The Nasdaq's up 30 points this afternoon. Chipmaker shares are now mixed. Here's Virtus Investments' Joe Terranova on CNBC today. I don't think you have any confirmation today that you have an all-clear signal just because you have a bounce in the market.

0:49Let's be clear. Today is about the price of oil being 7 % lower, yields falling further to levels we haven't seen in the last 45 days. It's election eve. CNBC's Megan Casella looks at what might happen with a divided government, depending on the outcome of the midterms tomorrow. The Democratic House will gain investigative power and a Democratic Senate would have the power to confirm or reject nominations, including most notably to the Supreme Court and the Federal Reserve. President Trump then will be exercising his veto power and likely leaning more on executive orders. Democrats, though, have been clear about their day one priorities.

1:25They say they'll be focused on reversing Medicaid cuts, extending Affordable Care Act tax credits, ending the Iran war and limiting the president's tariff authority. There could be some room for dealmaking here. Republicans have been asking, for example, for tens of billions more in Iran war funding. Democrats could trade that for a win on health care. Oil futures falling on hope. Middle East peace talks will produce an end to the U.S. war with Iran. Reuters reporting a draft proposal is already being circulated. But for voters on this midterm election eve, it might be too late. Here's CNBC's Sarah Eisen.

2:00Gas prices, you've got to start there. Obviously, this is the most sort of psychological pain point for consumers. This is a chart that shows gas prices since President Trump has been elected. Look, at$4.17 a gallon where we are, it's about$1.13 more expensive than a year ago. They're almost 40 % higher. That's a visible sort of visceral cost for for millions of voters. And especially, you know, in some of these some of these swingy states, you know, where we're watching the Senate race like Maine. I was looking at Maine. Half of Maine households use heating oil as their primary heating fuel. That's the highest share of any state.

2:35And we know what has happened with the price of heating oil. So that's something that that people are feeling right now. Amthropic updating its paperwork to go public with the S1 documents showing a$17 billion Q3 revenue number. Purchase commitments of about$895 billion. Amthropic may issue shares to the public before the end of the year. Apple CEO John Ternus facing his first big Wall Street test this afternoon. Apple will report quarterly results after the closing bell. Full coverage on CNBC TV, CNBC.com, and the CNBC app on your phone. The Powerball jackpot for tonight. Comfortably more than three quarters of a billion dollars at$793 million.

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