{"id":33902,"date":"2025-11-04T09:24:49","date_gmt":"2025-11-04T01:24:49","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=33902"},"modified":"2025-11-04T09:24:49","modified_gmt":"2025-11-04T01:24:49","slug":"sp-500-slips-ahead-of-key-tech-results","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/sp-500-slips-ahead-of-key-tech-results\/","title":{"rendered":"S&amp;P 500 Slips Ahead of Key Tech Results"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/indices9-1024x559.png\" alt=\"\" class=\"wp-image-16993\" \/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>S&amp;P 500<\/strong> fell <strong>0.20% to 6,850.43<\/strong> after Monday\u2019s modest gain of 0.17%.<\/li>\n\n\n\n<li><strong>Earnings focus<\/strong> on AMD, Uber, Spotify, Pfizer, and Super Micro Computer.<\/li>\n\n\n\n<li>Tech sentiment buoyed by <strong>AI-led strength<\/strong> in Amazon and Nvidia.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>U.S. equities were mixed on Tuesday, with <strong>S&amp;P 500 futures edging lower<\/strong> as traders reassessed valuations following a flurry of corporate earnings. The benchmark index slipped <strong>0.20% to 6,850.43<\/strong>, though it remains near record territory after Monday\u2019s AI-driven rally.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;As we look at 2026, I can start painting a case that the stock market is starting to make the economy look better than it really is,&quot; Sevens Report Research founder <a href=\"https:\/\/twitter.com\/TomEssaye?ref_src=twsrc%5Etfw\">@TomEssaye<\/a> says. &quot;AI is powering the S&amp;P 500 higher.&quot; <a href=\"https:\/\/t.co\/GTbhEapxXl\">pic.twitter.com\/GTbhEapxXl<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1985358747749831078?ref_src=twsrc%5Etfw\">November 3, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Earnings Momentum Slows<\/h2>\n\n\n\n<p>After the bell, <strong>Palantir Technologies<\/strong> fell nearly <strong>3%<\/strong> in extended trading despite beating Wall Street forecasts for the third quarter and issuing strong guidance.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Palantir shares fall after record run-up despite sales surge<a href=\"https:\/\/t.co\/S5UOUUA2LV\">https:\/\/t.co\/S5UOUUA2LV<\/a> via <a href=\"https:\/\/twitter.com\/business?ref_src=twsrc%5Etfw\">@business<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1985512080510984536?ref_src=twsrc%5Etfw\">November 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In contrast, <strong>Hims &amp; Hers Health<\/strong> surged over <strong>5%<\/strong> after announcing talks with <strong>Novo Nordisk<\/strong> to offer weight-loss drug <strong>Wegovy<\/strong> through its telehealth platform.<\/p>\n\n\n\n<p>Traders now await earnings from <strong>AMD<\/strong>, <strong>Uber<\/strong>, <strong>Spotify<\/strong>, <strong>Pfizer<\/strong>, and <strong>Super Micro Computer<\/strong>, which are expected to provide further insight into the resilience of corporate margins amid slowing global growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">AI Stocks Drive Prior Session<\/h2>\n\n\n\n<p>During Monday\u2019s regular session, both the <strong>S&amp;P 500<\/strong> and <strong>Nasdaq Composite<\/strong> extended gains up <strong>0.17%<\/strong> and <strong>0.46%<\/strong> respectively as <strong>AI-related tech stocks<\/strong> continued to outperform.<\/p>\n\n\n\n<p><strong>Amazon<\/strong> rallied <strong>4% to record highs<\/strong> after unveiling a <strong>$38 billion partnership with OpenAI<\/strong>, while <strong>Nvidia<\/strong> rose more than <strong>2%<\/strong> after <strong><a href=\"https:\/\/t.co\/PO5uc6xm12\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">Microsoft secured approval from the U.S. Commerce Department<\/a><\/strong> to supply its chips to UAE-based data centres.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Amazon\u2019s $38 billion deal with OpenAI added fuel to the artificial-intelligence fire, pushing the Nasdaq skyward: Here\u2019s your Evening Briefing <a href=\"https:\/\/t.co\/t3itu9fnbo\">https:\/\/t.co\/t3itu9fnbo<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1985477844361703663?ref_src=twsrc%5Etfw\">November 3, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Meanwhile, the <strong>Dow Jones Industrial Average<\/strong> declined <strong>0.48%<\/strong>, dragged by weakness in energy and financial shares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>The <strong>S&amp;P 500<\/strong> slipped 0.20% to <strong>6,850<\/strong>, pausing after October\u2019s strong rally as traders digested fresh signals from the Federal Reserve and renewed U.S.\u2013China dialogue.<\/p>\n\n\n\n<p>The index remains in a firm <strong>uptrend<\/strong>, holding above its key moving averages (5, 10, 30-day), though the <strong>MACD<\/strong> is starting to flatten, hinting at cooling momentum after weeks of steady gains.<\/p>\n\n\n\n<p>Support sits near <strong>6,750<\/strong>, while resistance remains at <strong>6,900<\/strong>; a breakout above that level could open the path toward <strong>7,000<\/strong>, while a drop below 6,750 may trigger short-term consolidation.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/2_image-2-1024x450.jpg\" alt=\"\" class=\"wp-image-33903\" \/><\/figure>\n\n\n\n<p>Recent news has provided a mixed backdrop. The <strong>Trump\u2013Xi meeting<\/strong> helped calm trade tensions, particularly over <strong>semiconductor and supply chain cooperation<\/strong>, lifting global sentiment.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">China will effectively suspend implementation of additional export controls on rare earth metals and terminate investigations targeting US companies in the semiconductor supply chain, the White House announced. <a href=\"https:\/\/t.co\/aNKUmgD1G1\">https:\/\/t.co\/aNKUmgD1G1<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1984705779878764734?ref_src=twsrc%5Etfw\">November 1, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>However, optimism was tempered by the Fed\u2019s latest remarks, which confirmed last week\u2019s <strong>25 bps rate cut<\/strong> but warned that a <strong>December move isn\u2019t guaranteed<\/strong>, keeping rate-sensitive sectors cautious.<\/p>\n\n\n\n<p>Technically, the broader structure remains <strong>bullish but overextended<\/strong>, suggesting the index may consolidate before making its next move. Traders should watch for sustained closes above <strong>6,900<\/strong> to confirm continued strength, while a dip below <strong>6,750<\/strong> could invite mild profit-taking.<\/p>\n\n\n\n<p>With U.S. earnings still outperforming and geopolitical sentiment improving, the bias leans higher, though momentum is likely to slow in the near term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Outlook<\/h2>\n\n\n\n<p>Market sentiment remains broadly constructive, fuelled by the ongoing <strong>AI boom<\/strong> and improving trade relations between the U.S. and China. However, with a dense earnings calendar and the Fed\u2019s policy outlook still uncertain, short-term volatility is expected to persist.<\/p>\n\n\n\n<p>Traders are likely to remain <strong>data-dependent<\/strong>, focusing on corporate forward guidance and inflation readings later this week.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Create your live VT Markets account<\/a> and <a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*5vyjdn*_gcl_au*Njc1MzM0NjY0LjE3NTEzNTM4MTc.*_ga*MjA5ODA0NDIzNC4xNzI3OTE1ODQ1*_ga_J26NL1ZVX7*czE3NTE4NzkxMDYkbzMwOCRnMSR0MTc1MTg3OTExOCRqNDgkbDAkaDA.*_ga_6XQ8153GYW*czE3NTE4NzkxMDgkbzU3JGcxJHQxNzUxODc5MTE4JGo1MCRsMCRoMA..*_ga_BG6LYEHPX1*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMTgkajUwJGwwJGgw*_ga_J8BRGZSREX*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_7CG6454YR5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_69Z54R4H9N*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_CY2VCKFC3C*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_TXZ07R2C21*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_17TMGY9BBE*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_MWDVVSEVL5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_2QCC3S2748*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_E7D2PCX624*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_XJ4037XKK6*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_EJCVQDC7VT*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjYkajQyJGwwJGgw\" target=\"_blank\" rel=\"noopener\" title=\"\">start trading<\/a> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 eased slightly as traders digested another wave of corporate earnings pending key technology results later in the day. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":16993,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[11,69],"class_list":["post-33902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-indices","tag-sp500"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/33902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=33902"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/33902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/16993"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=33902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=33902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=33902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}