AFTER THE CLOSE · November 2, 2026
Closing market recap : Nov 2, 2026
Large tech stocks are pulling back even as many other sectors and earnings look healthy. For new investors, this is a reminder that spreading money across different industries can help when one popular area, like big technology or energy, has a rough day.
Market overview
Stocks ended Monday slightly lower, with the S&P 500 down about half a percent while a big tech-focused fund fell more than 1%. Stronger gains in many non-tech companies could not fully offset weakness in the largest technology names.
Sector and industry performance
Consumer, financial, industrial, and basic-materials companies mostly rose, while energy and technology were the weakest areas. This split suggests investors favored steadier, economically linked businesses over oil producers and fast-growing tech after their recent strong runs.
Stock movers and news
IDEXX Laboratories surged more than 20% after reporting stronger-than-expected profits, boosting animal-health and diagnostics stocks. In contrast, Lumentum and Intel each tumbled sharply as investors questioned their outlooks despite recent earnings beats and ongoing shifts in their chip businesses.
Reported earnings
After the close, Apple slightly beat Wall Street forecasts for profit and sales, while Palantir and Roku also delivered better-than-expected results. Earlier, companies such as Amazon, Eli Lilly, Exxon, Chevron, Mastercard, AbbVie, Intel, and others posted mostly solid results, with Amazon missing estimates.
Upcoming earnings
Tonight and Tuesday, traders are watching results from AMD, Amgen, Arista Networks, Booking Holdings, Shopify, Pfizer, Eaton, and Marathon Petroleum. Later in the week, updates from chip designer ARM, Qualcomm, Toyota, ConocoPhillips, Enbridge, and Moderna may sway technology and energy shares.
Economic events
Oil prices fell about 8% Monday on reports of possible U.S.-Iran talks, pressuring energy stocks. Looking ahead, Tuesday’s job-openings data and later reports on services activity, unemployment, and consumer confidence could all shift expectations for growth and interest rates.
What to watch next
Large tech stocks are pulling back even as many other sectors and earnings look healthy. For new investors, this is a reminder that spreading money across different industries can help when one popular area, like big technology or energy, has a rough day.