On U.S. midterm election day, chip stocks halted their decline and rebounded, Nvidia's market cap returned to $5 trillion, and AMD surged nearly 8% in after-hours trading.

BlockBeats news, November 4th, U.S. midterm election voting day, U.S. stocks rebounded, with AI-related sectors leading the gains. According to data from the BIT stock platform, the S&P 500 index rose 0.36%, the Nasdaq rose 0.83%, and the Dow fell 0.38%; the Philadelphia Semiconductor Index rose 2.64%, ending a three-day losing streak. Morgan Stanley believes the election helps eliminate a major uncertainty facing the market, and the U.S. stock market correction that began in June has entered its "final stage."

Chip stocks broadly rebounded, with Nvidia up 2.29%, its market cap returning above $5 trillion; Micron Technology up 2.58%, SanDisk up 4.78%, and Broadcom up 3.07%. Computing power leasing stocks rose even more, with CoreWeave up 7.16%, Nebius up 7.25%, and Applied Digital up 9.80%. Goldman Sachs trading desk noted that the S&P 500's rally is still mainly driven by heavyweight stocks, and the market's breadth of gains remains narrow.

AMD closed regular trading up 3.65%, and after hours reported third-quarter revenue up 45% year-over-year, data center revenue nearly doubled, and fourth-quarter revenue guidance hit a new high, with the stock up 7.6% after hours.

On the macro front, U.S. September JOLTS job openings rose to a four-month high, while layoffs declined. Stronger-than-expected employment data pushed up U.S. Treasury yields, with the 10-year yield up 5.36 basis points to 4.948% and the 2-year yield up 3.13 basis points to 4.614%.

In crude oil, 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 that U.S.-Iran talks might make progress briefly pushed WTI below $94, after which Iran's Foreign Ministry said there was no new progress in the talks, and oil prices pared losses. The premium of Brent spot over futures narrowed from about $30 in early October to about $3.70.