What are today's top business/market headlines?

Here's a roundup of today's top business and market headlines (November 3, 2026):

Markets & Tech Selloff
Asian stocks opened lower as a selloff in US chipmakers deepened, overshadowing a plunge in oil prices on optimism over diplomatic progress toward ending the war in Iran. The damage has been significant: in the US, a gauge of chipmakers extended a three-day rout to 12% and the Nasdaq 100 sank 10% from its peak, entering a technical correction. However, in a sign some investors are looking to buy on dips, US stock futures gained.

U.S. Midterm Elections
Today's midterms are a major market focus — voters will decide whether Republicans keep control of Congress or Democrats gain enough seats to put a check on President Donald Trump's agenda. Analysts note that early polling and prediction markets data suggest Democrats have a shot at winning majorities in both the House and the Senate, which could have wide-ranging implications for government policy, including a potential unwind in defense spending, and could shape regulation around data centers. Historically, markets have fared well post-midterms: since 1950, the S&P 500 has gained an average of 15.1%, excluding dividends, in the 12 months following midterm elections, according to Capital Group.

Oil Prices Plunge
Oil has dropped sharply on Iran diplomacy hopes — Google News reports "Oil drops 7% as Iran signals openness to peace talks."

Big Earnings Moves

•Apple: Apple delivered a forecast for the holiday period that topped Wall Street estimates, even as it failed to impress investors who have bid up the shares in recent months. Separately, Apple is reportedly facing cost pressure — Financial Times notes "Apple warns on rising costs from memory chip shortage."

•Palantir: Palantir reports booming U.S. commercial revenue growth, topping government for first time, though the stock still fell on the news per Bloomberg.

•Oracle: Oracle plunged 8.8% after announcing a $10 billion share offering alongside plans to raise a similar amount through a debt sale.

•Marvell/Lumentum: Marvell Technology shares dropped almost 13%, while Lumentum shed 18% after the companies announced that Marvell is buying Lumentum in a $115 billion deal.

•Google/Alphabet: After a major AI-spending-driven selloff, Google News reports "After $500 billion was wiped off its market value, Google seeks $6.7 billion through bond sale as AI spending worries investors."

Sector Highlights

•Starbucks: Starbucks sales miss expectations, but its U.S. turnaround is gaining steam.

•Kimberly-Clark: closed its big acquisition of Kenvue, with analysts watching what's next.

•GM: GM will switch to Nasdaq from the NYSE on Nov. 17.

•Roku: Delivered strong Q3 results with sales soaring 24% amid the biggest ad-spending growth in four years, per Google News.

Jobs Data Ahead
Investors are also watching for Friday's jobs report — the U.S. is expected to have added 55,000 jobs in October, with the unemployment rate holding steady at 4.2%, an improvement from the prior month's weak 29,000 nonfarm payrolls figure.

Bottom Line: The market narrative right now is dominated by three forces — an AI/tech stock correction, falling oil prices on Iran diplomacy hopes, and today's pivotal midterm elections, which strategists say could "there's going to be volatility" regardless of outcome, per Siebert Financial's investment chief.

Citations (16)

1bloomberg.comNews and mediaquality 0.84
Stock Market Today: Dow, S&P Live Updates for November 3, 2026 - Bloomberg
Source excerpt: “Send a tip to our reporters · Site feedback: Take our Survey · By Toby Alder · November 2, 2026 at 10:25 PM UTCUpdated on · November 3, 2026 at 12:08 ...”
2bloomberg.comNews and mediaquality 0.84
Stock Market Today: Dow, S&P Live Updates for November 3, 2026 - Bloomberg
Source excerpt: “In the US, a gauge of chipmakers extended a three-day rout to 12% and the Nasdaq 100 sank 10% from its peak, entering a technical correction. ”
3bloomberg.comNews and mediaquality 0.84
Stock Market Today: Dow, S&P Live Updates for November 3, 2026 - Bloomberg
Source excerpt: “In a sign some investors are looking to buy on dips, US stock futures gained.”
4fool.comCommercial contentquality 0.84
Prediction: Nov. 3 Will Be a Huge Day for the Stock Market | The Motley Fool
Source excerpt: “Tuesday, Nov. 3, 2026, will help determine the direction of Washington for the next two years. Voters will decide whether Republicans keep control of ...”
5cnbc.comNews and mediaquality 0.85
Stock market next week: Outlook for Nov. 2-6, 2026
Source excerpt: “Early polling and prediction markets data suggest Democrats have a shot at winning majorities in both the House and the Senate. Such an outcome could ...”
6fool.comCommercial contentquality 0.84
Prediction: Nov. 3 Will Be a Huge Day for the Stock Market | The Motley Fool
Source excerpt: “Since 1950, the S&P 500 has gained an average of 15.1%, excluding dividends, in the 12 months following midterm elections, according to the investment...”
7news.google.comNews and mediaquality 0.79
Google News - Business - Latest
Source excerpt: “1 hour ago · By Reinhardt Krause · See more headlines & perspectives · Investopedia · More · Markets News, Nov. 2, 2026: Nasdaq Slides as Tech Sell-Of...”
8bloomberg.comNews and mediaquality 0.84
Bloomberg - Business News, Stock Markets, Finance, Breaking & World News
Source excerpt: “Apple delivered a forecast for the holiday period that topped Wall Street estimates, even as it failed to impress investors who have bid up the shares...”
9cnbc.comNews and mediaquality 0.85
Business News
Source excerpt: “Restaurant Brands reports mixed results as Burger King's U.S. turnaround shows signs of success ... Palantir reports booming U.S. commercial revenue g...”
10tradingeconomics.comData and tools
United States Stock Market Index - Quote - Chart - Historical Data - News | Trading Economics
Source excerpt: “Oracle plunged 8.8% after announcing a $10 billion share offering alongside plans to raise a similar amount through a debt sale. ”
11cnbc.comNews and mediaquality 0.85
Stock market news for Nov. 2, 2026
Source excerpt: “Marvell Technology shares dropped almost 13%, while Lumentum shed 18% after the companies announced that Marvell is buying Lumentum in a $115 billion ...”
12news.google.comNews and mediaquality 0.79
Google News - Business - Latest
Source excerpt: “Snap settles with two teens during trial testing claims social media caused depression, eating disorders ... After $500 billion was wiped off its mark...”
13cnbc.comNews and mediaquality 0.85
Business News
Source excerpt: “Markets · Business · Investing · Tech · Politics & Policy · Video · Watchlist · Investing Club · PRO · Livestream · Menu · Top News & Analysis...”
14cnbc.comNews and mediaquality 0.85
Business News
Source excerpt: “Measles resurgence exposes deeper weaknesses in U.S. public health, experts say ... GM will switch to Nasdaq from the NYSE on Nov. 17 ... ”
15cnbc.comNews and mediaquality 0.85
Stock market next week: Outlook for Nov. 2-6, 2026
Source excerpt: “The U.S. is expected to have added 55,000 jobs in October, with the unemployment rate holding steady at 4.2%, per FactSet. That would be an improvemen...”
16cnbc.comNews and mediaquality 0.85
Stock market next week: Outlook for Nov. 2-6, 2026
Source excerpt: “"There's going to be volatility," said Mark Malek, investment chief at Siebert Financial.”