Nasdaq Composite: 25,736.51 Close Meets a Cautious Thursday Outlook
Published on 11/05/2026 at 13:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSNasdaq faces a cautious session
- The Nasdaq Composite closed at 25,736.51 on November 4, gaining 364.50 points, or 1.44 percent.
- Post-election optimism and lower oil prices supported Wednesday's rally, while data-center and semiconductor concerns limited the technology sector's advance.
- Nasdaq futures were weaker before Thursday's U.S. open, with Qualcomm's outlook and U.S. labor-market data in focus.
The Nasdaq Composite enters Thursday's U.S. session after closing at 25,736.51 on Wednesday, November 4. The index gained 364.50 points, or 1.44 percent, according to Nasdaq. The move followed a strong rebound across U.S. equities, but the configured English S1 slot is an America pre-market report: the regular Nasdaq session had not yet opened during the European midday window.
Election relief supported Wednesday's rally
Investors responded to the Democrats' decisive midterm election gains, which reduced immediate political uncertainty and raised expectations that divided policy priorities could limit disruptive measures. Falling oil prices also supported risk appetite. CNBC reported that West Texas Intermediate crude fell more than 8 percent on Wednesday and that data-center shares weakened as investors considered the possible effect of tighter rules on artificial-intelligence infrastructure.
That combination produced a less uniform technology signal than the headline index gain suggests. Semiconductor and data-center companies remained exposed to policy uncertainty and questions about the returns on large artificial-intelligence investments. The Nasdaq Composite's broad construction means that developments outside the largest technology names can also influence the index, so Wednesday's advance should not be treated as a clear signal that sector-specific risks have disappeared.
Chip weakness clouds the Thursday open
Pre-market trading was more cautious on Thursday. CNBC reported that S&P 500 futures were down 0.3 percent and Nasdaq-100 futures were lower by 1.17 percent in early trading, while Dow futures were higher by 0.26 percent. These are futures indicators rather than a current Nasdaq Composite level. Qualcomm shares fell after its results because smartphone-chip revenue was weaker than expected, while AppLovin rose after reporting stronger results and guidance. The contrasting reactions underline the market's focus on the durability and composition of technology demand.
Labor data is the next test
Investors were also waiting for weekly U.S. unemployment-insurance claims and third-quarter productivity and unit-labor-cost data. The Federal Reserve Bank of St. Louis calendar lists the productivity and unemployment-insurance releases for Thursday. The figures may shape expectations for interest rates ahead of Friday's October employment report, adding a macroeconomic test to the technology-sector pressure already visible before the open.
Further Nasdaq Composite coverage is available on the Nasdaq Composite topic page.
