On the day of the U.S. midterm elections, chip stocks halted their decline and rebounded. Nvidia’s market capitalization returned to $5 trillion, while AMD surged nearly 8% in after-hours trading.

On US midterm election voting day, US stocks rebounded, with artificial intelligence-related sectors leading gains. Data from BIT Stock Platform shows: the S&P 500 rose 0.36%, the Nasdaq gained 0.83%, while the Dow Jones Industrial Average fell 0.38%; the Philadelphia Semiconductor Index climbed 2.64%, ending three consecutive trading days of losses. Morgan Stanley believes the election has helped eliminate a major uncertainty facing the market, noting that the US stock correction that began in June has entered its "final stage". Chip stocks rallied broadly: Nvidia rose 2.29%, returning its market capitalization above $5 trillion; Micron Technology gained 2.58%, SanDisk advanced 4.78%, and Broadcom climbed 3.07%. Computing power leasing stocks saw larger gains: CoreWeave rose 7.16%, Nebius jumped 7.25%, and Applied Digital surged 9.80%. Goldman Sachs' trading desk pointed out that the S&P 500's rally is still mainly driven by heavyweight stocks, with narrow market breadth. AMD closed up 3.65% in regular trading; its after-hours release showed Q3 revenue rose 45% year-on-year, data center revenue nearly doubled, and Q4 revenue guidance hit a new high, leading to a 7.6% rise in after-hours trading. On the macro front, US September JOLTS job openings rose to a four-month high, while layoff numbers declined. The stronger-than-expected jobs data pushed US Treasury yields higher: the 10-year yield rose 5.36 basis points to 4.948%, and the 2-year yield increased 3.13 basis points to 4.614%. In the crude oil market, WTI crude futures settled down 0.38% at $96.09 per barrel, and Brent crude futures fell 1.12% to $103.60 per barrel. Reports of possible progress in US-Iran talks briefly pushed WTI below $94, but Iran's Foreign Ministry stated there was no new progress in the negotiations, causing oil prices to trim their losses. Brent's spot premium over futures narrowed from around $30 in early October to approximately $3.70.