01 Stock Market

As of Nov 5, U.S. stock index futures performed as follows: Dow Jones futures rose 0.60% to 53,824.00; S&P 500 futures gained 0.17% to 7,733.50; and Nasdaq 100 futures fell 0.6% to 28,399. The setup points to a modestly firmer tone in the broader market, while the tech-heavy Nasdaq 100 continues to lag on pressure in semiconductors and AI-linked names. Strength in the Dow future suggests rotation toward more defensive large caps, while the Nasdaq pullback reflects caution around chip supply chains and valuation-sensitive growth stocks.

Notable Stock Movers: AppLovin (APP) surged 20.15% to $326.50 after reporting stronger-than-expected quarterly results and authorizing additional buybacks. Alibaba (BABA) rose 4.64% to $110.18, while GigaCloud Technology (GCT) jumped 10.52% to $63.97, GDS Holdings (GDS) gained 5.26% to $24.60, and Kingsoft Cloud (KC) advanced 6.91% to $8.66. On the downside, Intel (INTC) fell 2.15% to $57.02, Micron Technology (MU) dropped 3.27% to $769.26, Advanced Micro Devices (AMD) declined 3.54% to $471.50, and Taiwan Semiconductor Manufacturing (TSM) slipped 1.86% to $388.38. The mixed tape shows investors rewarding earnings-driven growth stories while punishing chipmakers tied to memory, AI infrastructure, and data-center policy concerns.

Among the more active U.S.-listed Chinese and consumer names, Bilibili (BILI) rose 5.04% to $14.58, Trip.com (TCOM) climbed 4.67% to $44.68, JD.com (JD) gained 3.75% to $28.77, and PDD Holdings (PDD) advanced 3.64% to $85.14. In contrast, Himax (HIMX) plunged 24.33% to $7.90, Infobird (IFBD) fell 11.15% to $1.62, Lichen China (LICN) dropped 10.16% to $0.57, and Jin Medical International (ZJYL) slipped 9.39% to $2.80. The pre-bell leaderboard is therefore being driven by a handful of earnings and sentiment catalysts, not a broad-based rally.

02 Other Markets

• 10-year U.S. Treasury yield fell 0.08%, to 4.89%.

• U.S. Dollar Index rose 0.0591% to 101.58.

• WTI crude oil futures rose 1.80% to 89.71 USD/barrel; COMEX gold futures rose 1.60% to 4138.30 USD/ounce.

03 Key News

1. AppLovin lifted guidance and expanded buybacks after a strong quarterly beat. The company reported revenue growth well above expectations and earnings that topped forecasts, then said its board approved up to $3.2 billion in additional repurchases. The combination of stronger operating momentum and capital returns helped support a sharp premarket move.

2. Micron paused a major Taiwan memory-chip project amid a labor dispute. Bloomberg reported that the company suspended plans for a $4.5 billion plant in Taiwan because of an extended labor conflict. The report adds another supply-chain and execution concern for a chip sector already facing policy and demand uncertainty.

3. The midterm election outcome increased scrutiny of data-center buildouts. Reuters reported that Democratic wins strengthened the risk of tighter rules on new data-center construction, including moratoriums and permitting restrictions. That policy shift is especially relevant for infrastructure-heavy AI names and could raise costs or delay projects.

4. Micron’s market share in DRAM fell as the memory cycle stayed hot. Counterpoint Research said Micron’s DRAM share declined while overall DRAM revenue surged sharply on higher pricing. The takeaway is that the market remains in a pricing-driven upswing, but competition among memory suppliers is still intense.

5. The U.S. election result weighed on oil by raising hopes for de-escalation. Reuters said crude prices fell as traders priced in a lower risk of further escalation in the Iran conflict. The move reflects expectations that political checks could reduce the odds of broader military action and support supply flows.

6. Democrats signaled they will use congressional control to constrain Trump’s agenda. Reuters reported that party leaders vowed to focus on affordability and accountability while pushing back on the White House. The result points to a more divided Washington, which can slow major legislative changes but also create more policy uncertainty.

7. Toyota reported higher first-half profit and raised its outlook. The automaker disclosed stronger attributable net income, higher sales revenue, and a cash dividend, while also lifting expectations for the full fiscal year. That combination suggests resilient operating performance despite a challenging global auto backdrop.

8. AI data-center stocks came under pressure after the election shifted the policy map. Dow Jones reported declines in several infrastructure names as traders weighed the possibility of slower project approvals and more local restrictions. The issue is less about immediate demand and more about timing, cost, and financing risk.

9. Intel drew fresh attention after another weak move in its shares. Dow Jones reported the stock was extending a steep slide, with the company still digesting a weak outlook, supply setbacks, and PC-business softness. The pressure underscores how quickly sentiment can deteriorate when fundamental execution and sector headwinds align.

10. Asian chip and auto shares reacted sharply to U.S. political changes. Market reports said memory makers weakened while automakers advanced as investors rotated on expectations of different trade and regulatory outcomes. The shift shows how U.S. policy risk can quickly spill into global supply chains and sector leadership.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: For informational purposes only; not investment advice.