What are today's top business/market headlines?

Today's top business and financial market headlines are dominated by a massive day of political and corporate events in the U.S., led by the midterm elections and crucial tech earnings.

1. U.S. Midterm Elections Underway

Today, November 3, 2026, American voters are heading to the polls to decide control of all 435 House seats and 35 Senate seats, potentially reshaping the balance of power for the final two years of President Donald Trump’s second term.

•Market Outlook: Historically, midterm election quarters and the subsequent 12 months trigger significant stock market rallies (averaging a 12% to 15% gain). While 2026 has already broken the typical midterm script with unusually strong year-to-date performance, analysts are watching the results closely.

•What to Watch: Prediction markets are pricing in a roughly 70% chance of a Democratic sweep of the House, while the Senate remains a tight toss-up. Strategists are advising investors to watch the bond market's reaction to potential government gridlock, which could keep government spending in check and stabilize Treasury yields.

2. Apple’s Q4 Earnings Beat Restores Tech Confidence

Late Monday, Apple reported fiscal fourth-quarter results that surpassed Wall Street's expectations, providing a vital cushion for a technology sector that suffered a sharp sell-off last week.

•The Numbers: Apple posted a September quarter record revenue of $114.5 billion (up 12% year-over-year) and diluted EPS of $2.10 (up 14% year-over-year).

•The Drivers: The blockbuster quarter was propelled by strong initial demand for the new iPhone 18, with total iPhone revenues rising 17% to $57.6 billion. However, the report also showed that Apple's gross margin slipped to 47.9% (down from 50.1% the prior quarter) due to rising component costs.

3. Oil Prices Plunge 7% on Ceasefire Breakthrough Hopes

Global energy markets experienced a major shake-up as crude oil prices plummeted roughly 7% on Monday, dropping back below the $100 per barrel mark.

•The Cause: The steep decline followed reports of diplomatic progress and potential ceasefire resolutions in the Middle East.

•The Impact: While the drop pressured oil and gas stocks, it sparked a "risk-on" sentiment across broader equity markets, boosting travel-related stocks like airlines and consumer cyclical sectors.

4. Oracle Slides on $20 Billion AI Funding Move

Shares of Oracle fell more than 6% on Monday after the database giant announced plans to raise $20 billion—comprising $10 billion in stock and $10 billion in bonds—to finance its aggressive AI infrastructure and data center expansion.

•Market Sentiment: Although the filing aligns with capital expenditure plans Oracle highlighted last week, the sudden $20 billion cash call reignited investor anxieties that major tech companies are overspending on the AI build-out before seeing clear returns.

5. Tuesday's Corporate Earnings Blitz

In addition to the election, Tuesday's schedule is packed with major Q3 earnings reports across several industries. Companies releasing their results before and after the bell today include:

•BioNTech (BNTX): Providing updates on its oncology pipeline and Q3 financials.

•Shopify (SHOP), Gartner (IT), and Eaton (ETN): All reporting ahead of the opening bell.

•Grab Holdings (GRAB): The Southeast Asian super-app reported record-breaking user numbers, clocking 57 million monthly transacting users in Q3 and raising its full-year revenue guidance to between $4.15 billion and $4.20 billion.

Market Snapshot (At Monday's Close)

•S&P 500: 7,580.07 (-1.82% over the last session, but futures indicate a positive open today)

•Dow Jones Industrial Average: 51,170.31 (-1.09%)

•Nasdaq Composite: 25,436.99 (-2.86% amid the pre-Apple tech sell-off)

•Gold: $3,951.10 per ounce

•WTI Crude Oil: $97.65 per barrel (-6.14%)

Citations (15)

1thestreet.comNews and mediaquality 0.82
thestreet.com
Backs: “Today's top business and financial market headlines are dominated by a massive day of political and corporate events in the U.S., led by the midterm elections and crucial tech earnings.”
2usbank.comNot yet classified
usbank.com
Backs: “Today, November 3, 2026, American voters are heading to the polls to decide control of all 435 House seats and 35 Senate seats, potentially reshaping the balance of power for the final two years of President Donald Trump’s second term.”
3seekingalpha.comNews and mediaquality 0.69
seekingalpha.com
Backs: “Market Outlook: Historically, midterm election quarters and the subsequent 12 months trigger significant stock market rallies (averaging a 12% to 15% gain). While 2026 has already broken the typical midterm script with unusually strong year-to-date performance, analysts are watching the results closely.”
4menthorq.comNot yet classified
menthorq.com
Backs: “While 2026 has already broken the typical midterm script with unusually strong year-to-date performance, analysts are watching the results closely.”
5investing.comNews and mediaquality 0.54
investing.com
Backs: “What to Watch: Prediction markets are pricing in a roughly 70% chance of a Democratic sweep of the House, while the Senate remains a tight toss-up. Strategists are advising investors to watch the bond market's reaction to potential government gridlock, which could keep government spending in check and stabilize…”
6fool.comCommercial contentquality 0.84
fool.com
Backs: “Strategists are advising investors to watch the bond market's reaction to potential government gridlock, which could keep government spending in check and stabilize Treasury yields.”
7fool.comCommercial contentquality 0.84
fool.com
Backs: “Late Monday, Apple reported fiscal fourth-quarter results that surpassed Wall Street's expectations, providing a vital cushion for a technology sector that suffered a sharp sell-off last week. The Numbers: Apple posted a September quarter record revenue of $114.5 billion (up 12% year-over-year) and diluted EPS of…”
8apple.comCompanies
apple.com
Backs: “The Numbers: Apple posted a September quarter record revenue of $114.5 billion (up 12% year-over-year) and diluted EPS of $2.10 (up 14% year-over-year). The Drivers: The blockbuster quarter was propelled by strong initial demand for the new iPhone 18, with total iPhone revenues rising 17% to $57.6 billion.”
9fool.comCommercial contentquality 0.84
fool.com
Backs: “Global energy markets experienced a major shake-up as crude oil prices plummeted roughly 7% on Monday, dropping back below the $100 per barrel mark. The Cause: The steep decline followed reports of diplomatic progress and potential ceasefire resolutions in the Middle East.”
10schwab.comCompanies
schwab.com
Backs: “Global energy markets experienced a major shake-up as crude oil prices plummeted roughly 7% on Monday, dropping back below the $100 per barrel mark. The Cause: The steep decline followed reports of diplomatic progress and potential ceasefire resolutions in the Middle East.”
11biontech.comNot yet classified
biontech.com
Backs: “BioNTech (BNTX): Providing updates on its oncology pipeline and Q3 financials. Shopify (SHOP), Gartner (IT), and Eaton (ETN): All reporting ahead of the opening bell.”
12marketrebellion.comNot yet classified
marketrebellion.com
Backs: “Shopify (SHOP), Gartner (IT), and Eaton (ETN): All reporting ahead of the opening bell. Grab Holdings (GRAB): The Southeast Asian super-app reported record-breaking user numbers, clocking 57 million monthly transacting users in Q3 and raising its full-year revenue guidance to between $4.15 billion and $4.20 billion.”
13morningstar.comData and tools
morningstar.com
Backs: “Shopify (SHOP), Gartner (IT), and Eaton (ETN): All reporting ahead of the opening bell. Grab Holdings (GRAB): The Southeast Asian super-app reported record-breaking user numbers, clocking 57 million monthly transacting users in Q3 and raising its full-year revenue guidance to between $4.15 billion and $4.20 billion.”
14grab.comNot yet classified
grab.com
Backs: “Grab Holdings (GRAB): The Southeast Asian super-app reported record-breaking user numbers, clocking 57 million monthly transacting users in Q3 and raising its full-year revenue guidance to between $4.15 billion and $4.20 billion. Market Snapshot (At Monday's Close)”
15zacks.comData and tools
zacks.com
Backs: “S&P 500: 7,580.07 (-1.82% over the last session, but futures indicate a positive open today). Dow Jones Industrial Average: 51,170.31 (-1.09%)”