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Today's Top Business / Market Headlines — Wednesday, November 4, 2026:
India — BL Morning Report (Nov 4, 2026)
•Markets Snapshot Published November 4, 2026:
•SENSEX 76,917.85
•+ 1,225.07
•NIFTY 23,810.85
•+ 370.05
•CRUDEOIL 9,094.00 +22.00
•GOLD 139,460.00 -726.00, SILVER 179,537.00 -4,242.00
•Banking cybersecurity: IBA is developing a mechanism for banks to share cyber incident information and improve response coordination following a breach exposing 3,897 SBI customer records.
•Tata-Iveco expansion: The $24-billion venture targets annual sales of nearly six lakh vehicles within five years, with India assembly plans and overseas expansion under consideration. Chairman N Chandrasekaran has set five-year target of nearly six lakh vehicles annually
•Festive shopping boom: E-commerce and quick-commerce platforms report surging Dhanteras purchases, including 258% growth in gold sales on Instamart and eightfold growth in electric two-wheeler sales on Amazon. Amazon reported fashion jewellery shoppers rising over 50% YoY, Instamart gold +258% and silver +185%
•US midterm elections: Americans are voting in elections that could shift control of Congress and constrain President Donald Trump’s agenda, amid economic pressures, war and political divisions. All 435 House seats and 37 Senate seats are at stake
U.S. Markets — Wall Street Focus:
•Wall Street wobbles as US midterm elections loom: The S&P 500 and Nasdaq opened higher on November 3 as oil prices continued to fall, while the Dow Jones declined.
•At the opening of trading, the Dow Jones Industrial Average fell 206.75 points, or 0.4%, to 51,777.23. In contrast, the S&P 500 rose 7.77 points, or 0.1%, to 7,549.17; the Nasdaq Composite gained 98.65 points, or 0.39%, to 25,263.01.
•Prior session close (Nov 3): S&P 500 rose 0.36% to close higher, while the Nasdaq Composite gained 0.83%, supported by advances in industrial, technology and communication services stocks. The Dow Jones Industrial Average, however, fell 0.38%. STOXX 600 declined 0.58% and MSCI global gauge slipped 0.06%.
•Context - Brutal prior week: Friday's selloff closed week with S&P 500 ended at 7,580.07 (down 1.82%), the Dow Jones fell 572 points to 51,770.31, and the Nasdaq dropped 2.86% to 25,437.00 after investors punished the huge AI spending plans of the big tech companies.
Tech & AI Investment Concerns:
•Apple shares fell about 4% after the first earnings results under CEO John Ternus showed that rising memory chip costs were putting pressure on the iPhone maker’s profit margins. Apple’s revenue rose 12% to $114.5 billion in John Ternus’s first earnings report as CEO but guided margins below expected.
•Nasdaq 100 closed on November 2 more than 10% below its record high, confirming that it had entered correction territory. Caution increased as investors worried that major technology companies (Big Tech) were spending too heavily on AI, while there was little evidence that these investments were generating commensurate returns.
•The US midterm elections held on November 3 are seen as a test of the first two years of Donald Trump’s second presidential term.
•Other Wall Street watch items Nov 3: Anthropic IPO investors want $1.5 trillion valuation not $2 trillion, Amazon free cash flow swung to $42.4 billion outflow as it spends heavily on AI, Marvell agreed to acquire laser maker Lumentum at $115 billion implied enterprise value, ECB President Christine Lagarde will step down on Feb. 7, 2027.
Economic Data & Earnings Today (Wednesday, Nov 4):
•Scheduled releases:
•October ADP Employment Survey: 70K vs. 90K in September
•October ISM Services PMI: 55.00 vs. 54.90 in September
•Also due: September U.S. trade balance, U.S. Services PMI and ISM Report on Business Services PMI, Eurozone preliminary October inflation (HICP) and Services PMI.
•Company Earnings reporting today:
•CVS Health, Uber Technologies, Snap on Wednesday, Nov. 4
•CPI (NASDAQ: PMTS) will report third quarter 2026 financial results on Wednesday, November 4, 2026, at 9:00 a.m. ET before the market opens.
•Redwire Corporation to report after market close Nov 4; DHI Group to report after close Nov 4.
Commodities / FX / Geopolitics:
•Brent crude fell 2.4%, extending downward trend; later Brent crude futures fell 1.12% to settle at US$103.60 a barrel after President Donald Trump announced agreement to end US$4 billion annual funding to Israel.
•US dollar index flat at 101.86, yen at 158.70, euro at US$1.1191; US 10-year Treasury yield climbing 5.36 basis points to 4.948%; spot gold edged 0.05% higher to US$3,930.04, Bitcoin at US$77,835.07 following Binance hack.