US Stock Pre-Market Report - November 5, 2026

NextFin News -

Pre-Market Performance

U.S. index futures were mixed before the open. Nasdaq 100 futures traded at 28,422.00, down 144.75 points or 0.51%, as chip and AI-linked shares remained under pressure. S&P 500 futures rose 13.50 points or 0.17% to 7,734.00, while Dow Jones futures advanced 325.00 points or 0.61% to 53,828.00.

European equities were broadly higher. The U.K. FTSE 100 climbed 78.51 points or 0.72% to 10,907.72; France's CAC 40 gained 65.27 points or 0.80% to 8,243.16; Germany's DAX rose 198.28 points or 0.75% to 26,635.95.

Commodities and FX: WTI crude traded around $88.50 a barrel, up about 0.4%, while Brent crude was around $96.04, up about 1.5%, stabilizing after a sharp post-election slide. Gold held above $4,100 an ounce, with spot prices around $4,124 to $4,135, supported by softer yields and a weaker dollar. The U.S. Dollar Index was near 101.48, down about 0.09%, while the 10-year Treasury yield hovered near 4.88%. Commodity prices Dollar and gold data

Hot News

• Post-midterm rotation supports cyclicals but pressures AI-linked shares. Global equities generally advanced after Democrats won control of both chambers of Congress, but chip and data-center stocks lagged as investors reassessed political and regulatory risk around AI infrastructure. The rotation helped Dow-linked and European markets outperform, while Nasdaq futures remained negative before the U.S. open. Reuters report
• Oil risk premium compresses after election results. Crude prices stabilized in early trading after a steep slide, as investors bet a divided Washington could reduce the likelihood of further escalation in the U.S.-Iran conflict. Lower oil prices also helped ease pressure on Treasury yields and inflation-sensitive market segments. Oil market context
• Gold extends rebound as dollar and yields soften. Gold climbed to a two-week high as the dollar weakened and Treasury yields eased, with investors adding exposure to precious metals after the election-driven repricing across rates and currencies. U.S. gold futures for December delivery were reported around $4,135.40. Gold market report
• Semiconductor weakness remains the main drag on Nasdaq futures. Qualcomm's post-earnings drop added pressure to chip sentiment, while Nvidia, Marvell and Intel also traded lower premarket. The Philadelphia semiconductor and AI infrastructure complex remains a key driver of the divergence between Dow strength and Nasdaq softness. Premarket futures report
• Europe advances as investors favor non-tech exposure. European benchmarks moved higher, helped by their heavier weighting toward banks, healthcare and industrials relative to U.S. technology-heavy indexes. The STOXX Europe 600 was reported testing record levels, while the FTSE 100, CAC 40 and DAX all posted solid gains. Global market update

U.S. Stock Focus

• Qualcomm — Handset weakness overshadows data-center ambitions. Qualcomm shares fell roughly 9% to 10% in premarket trading after fiscal fourth-quarter smartphone chip sales missed expectations and investors focused on margin pressure and the Apple revenue roll-off. The company reported fiscal Q4 revenue of $10.322 billion, down 8% year over year, and adjusted EPS of $2.17; it also reiterated a fiscal 2027 data-center revenue target of $5 billion. Qualcomm premarket move Company results
• AppLovin — Record Q3 results drive premarket surge. AppLovin jumped more than 16% premarket after posting Q3 revenue of $2.185 billion, up 55% year over year, and diluted EPS of $4.30. The company guided Q4 revenue to $2.365 billion to $2.395 billion and increased its share repurchase authorization by $3.2 billion. AppLovin results Premarket reaction
• Coherent — AI data-center optics support beat-and-raise quarter. Coherent reported fiscal Q1 revenue of $2.37 billion, up about 50% year over year, with non-GAAP EPS of $2.09. The company guided fiscal Q2 revenue to $2.55 billion to $2.75 billion and said it expects fiscal 2027 pro forma revenue growth to exceed 60%, keeping AI optical infrastructure demand in focus. Coherent results
• Expedia — Strong Q3, but guidance keeps shares under pressure. Expedia reported adjusted EPS of $9.39 and revenue of $4.94 billion, above estimates, with gross bookings up 11% year over year. Shares still traded lower after hours as investors focused on Q4 guidance calling for gross bookings of $27.9 billion to $28.4 billion and adjusted EBITDA of $830 million to $880 million. Expedia earnings highlights
• Arm Holdings — Guidance beats, but valuation bar remains high. Arm forecast fiscal third-quarter revenue marginally ahead of Wall Street expectations, helped by AI and data-center demand. The stock nevertheless slid in pre-open trading as investors focused on softer royalty growth and the difficulty of exceeding elevated expectations after a strong run. Arm earnings report Arm premarket move
• Snap — Shares fall after revenue and user metrics disappoint. Snap shares dropped close to 10% premarket after its Q3 report missed revenue and daily active user expectations, despite returning to profitability and reporting stronger cash flow. Investors focused on weaker user momentum as the company continues to invest in advertising products and its Specs platform. Snap premarket reaction Snap investor update
• Zillow — Revenue rises, but traffic and settlement costs weigh. Zillow reported Q3 revenue of $724 million, up 7% year over year, and adjusted EBITDA of $182 million. Traffic to Zillow Group mobile apps and sites fell 3% year over year to 215 million average monthly unique users, while a $165 million Zillow Offers securities class action settlement weighed on GAAP net results. Zillow results
• CAVA Group — Growth continues, but earnings miss triggers selloff. CAVA reported Q3 CAVA revenue growth of 22.1%, same-restaurant sales growth of 3.1%, and restaurant-level profit margin of 23.4%. Shares fell sharply after hours as investors reacted to earnings and revenue coming in below expectations, even as the company updated full-year same-restaurant sales guidance to 6.0% to 7.0%. CAVA results After-hours reaction
• Cloudflare — Q3 results due after the close. Cloudflare is scheduled to report Q3 2026 results after the U.S. market close, with the earnings webcast set for 5:00 PM ET. The report will test investor appetite for high-growth software names after the stock's strong 2026 performance and recent focus on infrastructure efficiency gains. Cloudflare earnings announcement
• Airbnb — Q3 report scheduled after market close. Airbnb is set to report Q3 2026 results after the close, with market estimates around EPS of $2.85 and revenue near $4.75 billion. Investors will look for commentary on travel demand, average daily rates, international growth and margin performance heading into the year-end booking period. Earnings calendar Airbnb earnings schedule

Explore more exclusive insights at nextfin.ai.