Stock Market Today (November 5, 2026): Dow Jumps 1,500

Stock market today: Dow surges over 1,500 points, crude oil plunges, and bond yields decline following the US midterm election results.

US equity markets surged on Wednesday as investors celebrated Washington gridlock and falling crude energy prices following the US midterm elections. The rally across the stock market today sent the Dow Jones Industrial Average up over 1,500 points, while benchmark bond yields declined and crude oil experienced an aggressive sell-off.

Markets at a glance

The table below summarizes performance across major global benchmarks based on official closing and tracking figures reported for the session:

Asset	Level/Price	Daily Change	As of
S&P 500 (.SPX)	7,688.62	+119.70 (+1.58%)	Close Nov 4 (CNBC, TheStreet)
Dow Jones (.DJI)	53,356.12	+1,569.40 (+3.03%)	Close Nov 4 (CNBC, TheStreet)
Nasdaq Composite (.IXIC)	25,736.51	+364.50 (+1.44%)	Close Nov 4 (TheStreet, CNN)
FTSE 100 (.FTSE)	10,829.21	+190.78 (+1.79%)	Close Nov 4 (DirectorsTalk)
STOXX Europe 600 (.STOXX)	657.40	+11.75 (+1.82%)	Close Nov 4 (Reuters, CappNotes)
Nikkei 225 (.N225)	62,188.63	-895.84 (-1.42%)	Close Nov 4 (AP, Kyodo News)
Gold (Spot)	$4,070.20/oz	+$129.80 (+3.29%)	5:00 p.m. ET Nov 4 (CappNotes)
Brent Crude Oil	$94.84/bbl	-$8.76 (-8.45%)	ICE Settle Nov 4 (Trading Economics)
US 10-Year Treasury Yield	4.891%	-0.060 pts (-6.0 bps)	3:00 p.m. ET Nov 4 (Tradeweb/Morningstar)
EUR/USD	1.1235	+0.0044 (+0.39%)	5:00 p.m. ET Nov 4 (CappNotes)
Bitcoin (BTC/USD)	$80,156.15 – $80,500.00	+3.50% to +3.64%	Late afternoon Nov 4 (The Block, Fool)

(Note: Discrepancies exist across reporting feeds. Investing.com cited the S&P 500 close at 7,688.87, Bloomberg cited Brent at $94.71/$95.22, and December Comex gold settled at $4,052.30/oz on Charles Schwab data. Learn more about how benchmark measures function in our guide on how stock market indices work.)

What moved the stock market today

The dominant driver of Wednesday's session was the projection of a divided US government following midterm election results. Projections from the Associated Press and decision desks showed the Democratic Party flipping control of both the Senate (projected at 54 seats) and the House of Representatives (projected at over 250 seats).

Investors reacted favorably to the prospect of legislative gridlock. Mark Hackett, Chief Market Strategist at Nationwide, noted that "gridlock is the market's friend," adding that "anything that isn't absolutely necessary is very unlikely to pass in the next two years, which does add to the predictability of the environment for investors." George Saravelos, Global Head of FX Research at Deutsche Bank, observed that a large Democratic majority combined with executive willingness to compromise should act "as a brake on extreme policy outcomes and bring down risk premia"—the additional return investors demand for holding risky assets over risk-free debt.

A sharp collapse in energy prices amplified the equity rally. Brent crude dropped over 8% to settle between $94.71 and $95.22 per barrel. Following remarks by Vice President JD Vance pointing to energy price shocks and the Iran conflict as factors behind election losses, markets priced in diplomatic de-escalation talks mediated via Qatar. This sparked deflationary relief across bond markets. The US 10-year Treasury yield dropped 6 basis points to 4.891%, easing borrowing costs and supporting global risk appetite. For broader analysis of post-vote market behavior, review our overview of the post-midterm stock market surge.

International equities saw broad gains in Europe, where the UK's FTSE 100 gained 1.79% to 10,829.21 and the pan-European STOXX 600 climbed 1.82% to 657.40, a two-month high. However, Japan's Nikkei 225 bucked the trend, declining 1.42% to 62,188.63 after an intraday drop of 4.84%, pressured by early selling across regional tech suppliers.

Top stock movers

Sector performance showed sharp divergence based on shifting policy expectations:

Alternative Energy: Solar and clean energy stocks led market gains. First Solar climbed 11.1%, Enphase Energy surged 11.6%, and Sunrun rallied 10.0%. Investors anticipated that Democratic control of Congress will protect clean-energy tax credits provided under the Inflation Reduction Act.
Megacap Consumer and Software Tech: Apple rose 6.26% (+$20.78 to $352.68), while Amazon and Microsoft each advanced roughly 6.0%. Investors rotated into large cash-generative software and consumer platforms as Treasury yields declined.
Healthcare Providers: Molina Healthcare jumped 6.0% and Centene rose 4.5% on reduced legislative risk to Medicaid and Affordable Care Act provisions.
AI Infrastructure and Data Centers: Power and data infrastructure suppliers suffered heavy losses. Modine Manufacturing plunged 21.43%, Cipher Digital dropped 19.95%, Forgent Power Solutions fell 17.32%, and Galaxy Digital lost 16.99%. Selling followed local ballot initiatives curbing data center expansion and gubernatorial campaigns in Texas, Georgia, and Ohio targeting power-grid consumption. Anna Wu, founder of Floodlines Research, observed that capital rotated "out of the AI buildout and into what a Democratic Congress favors."
Semiconductors: Nvidia fell 1.55% to $203.49 as investors trimmed exposure to high-multiple chip hardware.
Defense Contractors: Northrop Grumman fell 5.0%, while Lockheed Martin and RTX Corp dropped more than 3.0% each amid Middle East peace sentiment and potential scrutiny over discretionary defense appropriations.
Tesla: Dropped between 2.28% and 3.6% ($389.40), weighed down by regulatory sentiment and margin pressure.

Gold, oil and currencies

Commodities and foreign exchange experienced dramatic shifts:

Gold: Spot gold prices rose 3.29% (+$129.80) to reach $4,070.20 per ounce by 5:00 p.m. ET, rebounding after dropping to $3,923.22 earlier in the session. December Comex futures settled at $4,052.30 per ounce, up 2.84%. Weakness in the US dollar index—which fell between 0.34% and 0.58% to 101.27–101.53—helped fuel the move. (For details on asset structures, read our primer on how to invest in gold.)
Crude Oil: Brent crude sank $8.76 (-8.45%) to settle at $94.84 per barrel on ICE (with Bloomberg reporting $94.71 to $95.22). West Texas Intermediate (WTI) fell over 8% to settle at $88.12 per barrel. Rapidan Energy Group President Bob McNally voiced a dissenting perspective, cautioning: "Traders are betting that the administration is going to quit this war... We're not buying it. We think escalation is more likely."
Currencies & Crypto: The euro strengthened against the dollar, with EUR/USD rising 0.39% to 1.1235. In digital assets, Bitcoin rebounded from an early drop to $75,625—caused by a reported $6.3 billion security breach at Binance—to trade between $80,156.15 and $80,500.00, up over 3.5%. Matt Hougan, CIO at Bitwise, stated that the asset's recovery highlights "the crypto industry's growing maturity." Context on previous monthly swings is available in our October 2026 market scorecard.

What to watch tomorrow

Economic data and monetary policy decisions will steer trading across the US, UK, and European sessions:

Bank of England (BoE) Rate Decision (Thursday, Nov 5): Scheduled for 12:00 GMT (7:00 a.m. EST). Economists at Goldman Sachs and ING project a 25-basis-point rate increase from 3.75% to 4.00% via a 7–2 vote, driven by domestic inflation prints and September CPI at 3.5%.
US Labor Data (Thursday, Nov 5): The US Department of Labor publishes weekly initial jobless claims at 8:30 a.m. EST, alongside third-quarter labor productivity and unit labor costs from the Bureau of Labor Statistics (BLS).
Corporate Earnings (Thursday–Friday): ArcelorMittal, Air France-KLM, Energy Fuels, Redwire, and Lumentum report Thursday, followed by Aperam on Friday morning.
US October Employment Situation (Friday, Nov 6): The BLS releases Non-Farm Payrolls, the unemployment rate, and average hourly earnings at 8:30 a.m. ET. This is the primary labor report scheduled before the Federal Reserve's December 9 FOMC meeting.

FAQ

Why did the Dow Jones gain over 1,500 points today?

The Dow surged 3.03% as investors welcomed political gridlock from a projected Democratic sweep of Congress, which reduces expectations for major tax increases or unilateral tariff escalations. The advance was further supported by an 8% drop in crude oil prices and lower US Treasury yields.

Why did clean energy stocks rise while defense stocks fell?

Clean energy shares such as First Solar surged on expectations that Democratic majorities will protect Inflation Reduction Act subsidies. Conversely, defense contractors like Northrop Grumman fell due to prospects of constrained defense appropriations and diplomatic de-escalation bets in the Middle East.

What is the Bank of England expected to do at its meeting?

Economists at Goldman Sachs and ING project that the Bank of England will raise its benchmark interest rate by 25 basis points, moving the policy rate from 3.75% to 4.00%, in response to elevated inflation readings.

Sources

This article is for informational purposes only and is not financial advice. Markets move quickly; check live prices before making decisions.