Below are highlights from the NDW Morning Update Video for the morning of 11/04.
Below are highlights from the NDW Morning Update Video for the morning of 11/04. Access the video on the NDW Morning Update Video page.
- The big event on the docket throughout Tuesday evening/Wednesday morning were the results of the midterm elections. As of 11/4/2026, it has been projected Democrats have won back the House and Senate, flipping back several key seats in battleground states across the nation. With these results in mind, the nation will now operate under a divided government for the last two year’s of Trump’s presidency.
- Markets bounced around throughout last night (11/3) and pre-market action on 11/4. As of ~ 8AM EST, major domestic equity benchmarks were roughly flat, rebounding from 1%+ declines as results came through in the evening hours. Click here to read more about industry returns in both unified and divided government.
- In terms of trading action on 11/3, it was a mostly mixed day across the board. The Nasdaq Composite (NASD) led the way to the upside gaining just under 1%. Long-duration fixed income fund TLT shed 76 basis points during the session.
- Notable market action was rather limited. Crude Oil (CL/) continued lower on its default chart, testing its positive trend line at current levels. Despite this near-term decline, it still trades above a seemingly key $80 mark on its chart, a point to watch as we move towards the end of 2026.
- As we have highlighted in recent research, recent market volatility has led to several key RS changes. One of the more closely watched value/growth relationships between VTV and VUG flipped back in favor of VTV, signaling long-term strength established by value. Keep this in mind when putting new money to work as we wrap up the year.
- In terms of notable movers- one area that could be impacted by a democrat win could be the AI space. Global X Artificial Intelligence representative AIQ has lost some strength recently, now earning a (still defendable) 3.84 fund score as of 11/3. Keep an eye on the bullish support line at $54. NVO bounced after earnings, it is a sell on rally candidate. QCOM reports after close on 11/4. PH could be an option ahead of its call on 11/5.
