November 3, 2026

Anticipation in the United States ahead of elections that will determine the makeup of Congress

International

In the United States, midterm elections are taking place today, with the entire House of Representatives and one-third of the Senate up for election.

The U.S. Treasury yield curve showed mixed movements during yesterday’s trading session. The 1-year Treasury note remained at 4.37%, while the 3-year note dipped slightly from 4.66% to 4.65%, followed by the 10-year note, which moved from 4.93% to 4.91%.

Meanwhile, major U.S. stock indices saw mixed results on Monday. The Nasdaq fell 1.1%, and the S&P 500 declined 0.5%, while the Dow Jones bucked the trend, rising 0.4%. Year-to-date, these indices have posted gains of 8.3%, 10.2%, and 8.2%, respectively.

Regarding the third-quarter corporate earnings season, Apple—one of the "Magnificent Seven"—reported earnings per share (EPS) of $2.10 and revenue of $114.5 billion, representing a 15% year-over-year increase. Palantir also beat expectations for both EPS and revenue. This afternoon, following the market close, Berkshire Hathaway and AMD are set to release their earnings reports.

In the commodities market, Brent crude oil fell 11.6% yesterday to $104 per barrel, following signs of a potential new truce in the Middle East. Specifically, discussions between Iran and mediators from Qatar have fueled expectations regarding the possible reopening of the Strait of Hormuz.

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