MARKET SIGNAL REPORT
POWERED BY STOCKSTOTRADE |
| TUE NOV 3 CLOSE · AS OF 1:23 PM ET · SPY +0.54% QQQ +0.87% DIA -0.26% IWM +0.68% |
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KEY TAKES
- Chips are carrying QQQ to +0.87%, with AMD +5.5% and Nvidia +2.9% ahead of AMD's report after the bell.
- Apple is -1.7% after a record iPhone quarter came with a margin worry, and DIA is the lone index in the red at -0.26%.
- Tim Bohen tracks four signals that show up before small stocks jump at Monday's open (From Millionaire Publishing)
- Earnings beats are doing the lifting: Aehr +27.0%, Xometry +17.5%, Fabrinet +16.5% and Neurocrine +16.1%.
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AMD is +5.5% at $492.59 a day after it fell 7.5% into its report, and Nvidia is +2.9% after a report that Samsung will make chip parts for both at its Texas plant (Seeking Alpha). Seeking Alpha also says Anthropic's compute commitments have reached $807B ahead of its IPO. As of 1:23 PM ET, SPY is +0.54%, QQQ +0.87%, DIA -0.26% and IWM +0.68%.
Apple is -1.7% at $332.42. Its fiscal Q4 earnings and revenue topped estimates, but MT Newswires says the results underwhelmed and the Motley Fool points to margins. Palantir is -2.2% at $174.40 even after HSBC lifted its target to $179. It is Election Day, and traders are waiting on midterm results.
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TODAY'S TOP 5 GAINERS
1 · AEHR +27.0% · $65.35. Aehr Test Systems beat fiscal Q1 estimates on AI demand and raised its revenue outlook (Zacks). The gain has grown from about 13% before the bell.
2 · ACB +21.4% · $5.13. Organigram agreed to buy Aurora Cannabis for $5.58 a share (MT Newswires) while Curaleaf has a hostile bid out. The stock sits below the deal price.
3 · GPK +18.9% · $11.09. Graphic Packaging beat Q3 Street views (Seeking Alpha) even as it trimmed 2026 guidance. More than 10M shares have traded.
4 · XMTR +17.5% · $112.19. Xometry earned 28 cents a share against a 19-cent consensus and now sees 2026 revenue up at least 37%, from 33% to 34% before (The Fly).
5 · FN +16.5% · $366.62. Fabrinet beat fiscal Q1 estimates on data center demand (Zacks). B. Riley cut its target to $364, and the stock already trades above it.
Left off: RDAC +120% after its SPAC merger was called off, and ARRY +22% with no fresh news in the feed. Treat both as noise. |
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THE SIGNAL
Buyers are moving back into chips ahead of AMD's numbers. AMD is up 5.5% one day after a 7.5% drop, and suppliers to AI data centers like Aehr and Fabrinet are up double digits on beats. Apple's slip says the market still pays for AI spending first and phones second.
Wrong if: AMD's guide disappoints and the stock gives back today's gain on Wednesday. That would make Tuesday a short-covering bounce.
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HEADLINE OF THE DAY
“Update: US Equity Indexes Mixed as Apple's Results Underwhelm on Election Day”
MT Newswires | Nov 3, 12:50 PM ET
Apple is the biggest stock that doesn't run on AI chip spending. A soft reaction to a record quarter says money prefers chips over hardware margins right now.
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ONE TO WATCH
AMD (Advanced Micro Devices) reports after today's close, with the call at 5:00 PM ET. Last $492.59, +5.5% as of 1:23 PM ET, after a 7.5% drop Monday. Arista, Super Micro, Amgen and Duolingo also report. The data center guide decides whether this bounce holds Wednesday.
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HANDPICKED FOR YOU
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SHH. THIS IS A CLUB.
You get the close because you open and click. Go quiet and we give your chair away.
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Market Signal Report
powered by StocksToTrade
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Signal over noise. Late-session read, not the official close. Full recap after the bell.
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