US Stock Pre-Market Report - November 3, 2026

NextFin News -

1) Pre-Market Performance

U.S. equity futures were mixed ahead of the open, with technology futures holding near flat while blue-chip futures lagged. Nasdaq 100 futures traded at 28,129.3, up 1.8 points or +0.01%. S&P 500 futures were at 7,558.0, down 16.5 points or -0.22%. Dow Jones futures fell to 51,670, down 463 points or -0.89%.

European equities were broadly weaker. The FTSE 100 traded at 10,687.31, down 74.02 points or -0.69%, after opening at 10,761.30. France's CAC 40 was at 8,022.77, down 24.92 points or -0.31%, with an intraday range of 7,986.55 to 8,039.22. Germany's DAX fell to 25,787.61, down 193.48 points or -0.74%, after touching a low of 25,677.86.

In commodities and currencies, oil rebounded after Monday's sharp selloff. Brent crude traded around $105.78 a barrel, up 0.96%, while WTI crude was near $97.50, up 1.08%. Gold futures slipped to about $3,936.30 an ounce, down 0.8%, as traders balanced election risk, yields and the dollar. The U.S. Dollar Index was near 101.77, up about 0.03%, with the dollar broadly steady around the U.S. midterm vote.

2) Hot News

• Global risk appetite softens ahead of U.S. midterms. World shares weakened and U.S. futures were mixed as investors waited for the outcome of the midterm elections. The vote is being watched for potential shifts in fiscal policy, regulation, trade and market leadership into year-end.
• Oil rebounds after Monday's plunge. Crude prices recovered in pre-market trading, with traders continuing to monitor Middle East headlines and U.S.-Iran diplomacy.
• Big Tech earnings keep pressure on index sentiment. Apple's margin warning and Palantir's post-earnings decline kept attention on valuation and profit durability in the AI-linked trade, even as several semiconductor and infrastructure names attempted to rebound.
• AI and semiconductor volatility remains elevated. The Philadelphia Semiconductor Index fell another 3% on Monday, extending a recent selloff in AI-linked equities. Investors remain focused on whether heavy AI infrastructure spending can translate into sustainable free cash flow.
• Dollar holds near 102 as election risk dominates FX trading. Currency markets were cautious, with gold easing and Treasury-yield sensitivity still high ahead of the election outcome.

3) U.S. Stock Focus

• Apple — Margin guidance weighs on shares. Apple reported fiscal fourth-quarter revenue of $114.48 billion, up 12% year over year, and EPS of $2.10, both above expectations. Shares fell about 4.5% in pre-market trading after the company guided holiday-quarter gross margin to 45%–46%, below consensus, citing higher memory-chip costs.
• Palantir Technologies — Strong results, weaker stock reaction. Palantir reported third-quarter adjusted EPS of $0.44 and revenue of $2.31 billion, up from $1.18 billion a year earlier and ahead of estimates. The company raised full-year revenue guidance to $8.530 billion–$8.534 billion, but shares fell in pre-market trading as investors focused on valuation and contract-growth signals.
• Advanced Micro Devices — Earnings due after the close. AMD is scheduled to report fiscal third-quarter results after today's closing bell, with the call set for 5:00 p.m. ET. Shares were higher in pre-market trading as investors positioned for updates on AI accelerator demand, server sales and margins.
• Marvell Technology — Lumentum deal tests AI M&A appetite. Marvell agreed to buy Lumentum in a $115 billion all-stock transaction, including debt, giving Lumentum holders 4.5 Marvell shares for each Lumentum share. Marvell fell sharply Monday after the announcement as investors weighed the strategic AI-connectivity rationale against execution risk and deal size.
• Oracle — $20 billion financing priced. Oracle priced concurrent offerings of common stock and senior notes totaling $20 billion, including 86.2 million shares at $116 per share and multiple bond tranches maturing from 2029 to 2046. The financing highlights the scale of capital required for Oracle's AI and cloud-infrastructure expansion.
• Aehr Test Systems — Outlook raised on AI chip demand. Aehr reported record fiscal first-quarter revenue of $33.0 million, bookings of $46.7 million and effective backlog of $109.3 million. The company raised its fiscal 2027 revenue outlook to $150 million, about triple fiscal 2026 revenue, sending shares sharply higher after hours.
• Harmonic — Guidance increase drives pre-market surge. Harmonic raised its full-year 2026 revenue outlook to $545 million–$555 million after third-quarter revenue grew 64% year over year. Shares jumped in pre-market trading as investors focused on the company's stronger broadband and rest-of-market momentum.
• Shopify — Third-quarter report due before the open. Shopify is scheduled to release third-quarter results before the market opens, followed by an 8:30 a.m. ET call. Consensus expectations are centered near $0.46 in EPS and about $3.7 billion in revenue, with investors focused on merchant growth, margins and AI commerce tools.
• Pfizer — Healthcare earnings in focus. Pfizer is set to report third-quarter results before the open, with consensus near $0.73 in EPS and $15.9 billion in revenue. The stock was slightly lower in pre-market trading as investors awaited pipeline updates, cost controls and full-year guidance commentary.

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