Indian markets will take cues from the US midterm elections, with investors tracking their potential implications for the political landscape and poli…
1/6US Midterm elections | Voters across the US will decide which party controls the House of Representatives and the Senate. Democrats need to gain four seats in the Senate and three in the House to take control of both chambers from Republicans. A Democratic majority in Congress would give the party greater leverage to challenge President Donald Trump’s agenda during the final two years of his term. The battle for control is largely concentrated in states and congressional districts that Trump previously won by wide margins. Key Senate races are being closely watched in Alaska, Iowa, Kansas, Maine, Michigan, Ohio and Texas.
2/6US Markets | The Nasdaq Composite rose 0.4% on Tuesday as investors returned to major technology stocks following recent declines and positioned ahead of the US midterm elections. The Nasdaq-100 gained 0.5%, but remained in correction territory, trading more than 10% below its recent high. The S&P 500 edged up 0.1%, while the Dow Jones Industrial Average fell 188 points, or 0.4%, dragged down by losses in Apple shares.
3/6Crude oil | Crude oil prices fell Tuesday for a second consecutive session, as the market hopes the US and Iran will reach a diplomatic settlement to the conflict that has disrupted global energy supplies for eight months. U.S. West Texas Intermediate futures were 42 cents lower to $96.04 a barrel after dipping below $95 earlier. Brent crude futures, the international benchmark, were down $1.23 at $103.54 a barrel. The move lower came after rumours circulated that the US and Iran were making progress toward a deal.
4/6HSBC PMI | The HSBC Services Purchasing Managers’ Index (PMI) and Composite PMI data for October are scheduled to be released at 10:30 am IST tomorrow.
5/6Second Quarter Results | Among the major companies scheduled to announce their earnings on Wednesday (November 4, 2026) are BSE Ltd, Apollo Hospitals Enterprise Ltd and Aurobindo Pharma Ltd.
6/6US Economic data | In the US, October ADP Nonfarm Employment Change data is scheduled for release at 6:45 pm IST, followed by September Trade Balance data at 7:00 pm IST. The October Services Purchasing Managers’ Index (PMI) flash data is due at 7:15 pm IST.