How did US markets close on November 4, 2026?

Dow 30 surged 1,569.40 points (+3.03%) to 53,356.12 — its biggest post-midterm-election rally in 44 years. S&P 500 rose 119.70 (+1.58%) to 7,688.62, Nasdaq climbed 364.50 (+1.44%) to 25,736.51, and Russell 2000 added 1.58%. The VIX collapsed 20.26% to 16.61.

Why did markets rally so hard?

Democrats won full control of Congress in the midterms, and investors read the result as paving the way toward divided government and reduced near-term policy risk. WTI crude also slid sharply on the news, easing inflation-input worries, while bond yields eased (10-Yr down to 4.894%).

What happened with AppLovin's earnings?

AppLovin (APP) reported Q3 2026 EPS of $4.30-4.31, narrowly missing some estimates (~$4.43) on revenue of $2.18B that also came in just under consensus (~$2.25B) — yet the stock still jumped roughly 35% on the day as investors focused on 55% YoY revenue growth and record 66% net margins rather than the narrow miss.

What's on the earnings calendar for today, November 5?

616 companies report — the busiest single day of the week. Key before-the-bell names include Toyota, ConocoPhillips, Sony, Parker-Hannifin, Southern Co, Canadian Natural Resources, Duke Energy, and Cigna; after-hours includes Airbnb, Monster Beverage, Cloudflare and EOG Resources.

Evening Intel: Dow Rockets 1,569 Points on Midterm Sweep, AppLovin Misses but Soars 35%

Markets Close — November 4, 2026

Index	Level	Change
S&P 500	7,688.62	+119.70 (+1.58%)
Dow 30	53,356.12	+1,569.40 (+3.03%)
Nasdaq	25,736.51	+364.50 (+1.44%)
Russell 2000	2,856.95	+44.50 (+1.58%)
VIX	16.61	-4.22 (-20.26%)
10-Yr Bond	4.894%	-0.058

Commodities & Crypto:

Gold: $4,102.20 (+0.72%)
WTI Crude: $88.04 (-0.09%, after an ~8% slide the prior session)
Bitcoin: $80,542.01 (+4.44%)

Why markets ripped higher: Democrats secured full control of Congress in the midterm elections, and Wall Street read the result as the “biggest post-midterm rally in 44 years” — the Dow’s best single day of 2026, up more than 1,500 points at the open and holding gains into the close. Oil slid sharply (WTI down as much as 8% intraday the session before) as traders priced in reduced geopolitical escalation risk, and the VIX cratered over 20% as uncertainty premium drained out of the market. Healthcare and industrials led sector gains; the broad-based rally pulled nearly every major index to session highs.

Big Mover: AppLovin (APP) +35% Despite a Mixed Print

AppLovin posted record Q3 results — net income up 72% YoY to $1.44B on revenue of $2.18B (+55% YoY), with industry-leading 66% net margins. Basic/diluted EPS came in at $4.31/$4.30. Depending on the estimate source, this landed either as a narrow beat (vs. $4.03 consensus per MarketBeat) or a narrow miss (vs. $4.43 per GuruFocus) — estimates were scattered heading into the print. Revenue of $2.18B also came in just shy of some ~$2.25B estimates. None of that mattered to the tape: shares rocketed roughly +35% on the day as investors focused on the growth rate and margin profile rather than the EPS/revenue line-item noise.

Geopolitical Intel (ThinkCreate, LVL 1-10 scale)

Priority items:

[LVL 5] Japan caught in a diplomatic dilemma amid joint pressure from nuclear-armed neighbors
[LVL 4] GDACS green-level forest fire notifications — Botswana, Australia, South Sudan
[LVL 3] Ukraine: bodycam video shows deadly Russian “double-tap” bombing
[LVL 3] Sudan and Ethiopia order tit-for-tat diplomatic expulsions
[LVL 3] Trump blames Iran war for midterm losses
[LVL 3] Abdul El-Sayed welcomes Trump’s plan to cut Israel aid, calls for end to arms sales
[LVL 1] Democrats seize full control of Congress — the dominant market-moving headline of the cycle

Defense Sector Snapshot

Ticker	Price	Change
RTX	$198.43	-2.64%
LMT	$595.04	-6.88%
NOC	$525.35	-4.53%
GD	$364.87	-2.57%
BA	$177.00	+2.13%
PLTR	$171.70	-2.11%

Defense names were the standout laggards even as the broad market rallied — LMT and NOC both down sharply, likely reflecting rotation out of defense/geopolitical-risk hedges as election clarity reduced policy-risk premiums and oil slid.

Live Data Snapshot

Commercial flights: 6,395 | Military: 246 | Private: 2,049 | Flagged aircraft: 370
Vessels tracked: 19,311 | Active satellites: 548
GPS jamming events (24h): 7 | Earthquakes (24h): 41
Global GDELT incidents: 966

Today’s Earnings (Nov 5) — 616 Companies, Busiest Day of the Week

Before the bell: Toyota Motor ($2.74 est.), ConocoPhillips ($3.05 est.), Sony ($0.34 est.), Parker-Hannifin ($8.17 est.), Southern Co ($1.71 est.), Canadian Natural Resources ($1.49 est.), Duke Energy ($1.86 est.), Cigna ($7.51 est.), EOG Resources ($4.45 est., AMC), Kimberly-Clark ($1.65 est.), Cummins ($8.28 est.), Cardinal Health ($2.94 est.) and Becton Dickinson ($4.07 est.). After the close: Airbnb ($2.85 est.), Monster Beverage ($0.30 est.), Cloudflare ($0.34 est.), Warner Bros. Discovery (-$0.01 est.) and Simon Property Group ($1.62 est.).

Bottom Line

The midterm-sweep rally was the story of the day — the Dow’s best session of 2026 and the strongest post-midterm move in 44 years, with the VIX crushed and oil down hard on reduced geopolitical risk pricing. AppLovin’s 35% pop on a mixed print shows growth/margin narratives are still trumping line-item beats in this tape. Watch for continued rotation signals tomorrow as the busiest earnings day of the week (616 reports) rolls through energy, healthcare and travel names.