US Market Wrap 4 November: The Dow Jumps 3% to Lead All Five US Indices Higher
First published at 16:01 GMT; updated with the session’s closing edition at 22:22 GMT.
All five US indices we track closed higher on Wednesday, the Dow Jones Industrial Average leading with a 3.03% jump, after Democrats won both houses of Congress in the midterm elections.
CNBC reported that the Democrats’ decisive win, and President Donald Trump’s acceptance of the results, removed the political uncertainty hanging over Wall Street, while oil fell more than 8% as Vice President JD Vance blamed the war with Iran for the Republicans’ losses. In The Edge’s reading, the rally ran through the parts of the market that gain from calmer politics and cheaper fuel rather than through technology: consumer discretionary and financial stocks led, while the technology sector rose only 0.55%, well short of the S&P 500’s 1.58%.
The Dow leads as volatility drops
The Dow posted the largest gain of the five indices we track and closed at 53,356.12, while the Nasdaq 100 posted the smallest as technology lagged. Consumer discretionary led the sectors with a 4.27% rise, and the Cboe Volatility Index fell to 16.61.
Energy falls a third day as yields and crude slide
Energy fell 4.77%, its third straight decline and the deepest move among the 11 sectors. Brent for January delivery settled 8.67% lower at $94.62 a barrel. On the Treasury’s official daily curve, the 10-year yield fell 5 basis points to 4.90%, and yields fell at every maturity from six months out. Across the 33 indices we published today, Shenzhen’s Component index was the strongest, up 4.22%, and Tokyo’s Nikkei 225 the weakest, down 1.42%.
The US closes, ranked
| Index | Close | Change |
|---|---|---|
| Dow Jones Industrial Average | 53,356.12 | +3.03% |
| Russell 2000 | 2,856.95 | +1.58% |
| S&P 500 | 7,688.62 | +1.58% |
| Nasdaq Composite | 25,736.51 | +1.44% |
| Nasdaq 100 | 28,437.17 | +0.91% |
Closes of Wednesday 4 November 2026 from the price feed against Tuesday’s closes as published, ranked by change on the unrounded values; no index fell.
S&P 500 sectors
| Sector | Change |
|---|---|
| Consumer discretionary | +4.27% |
| Financials | +3.46% |
| Real estate | +3.19% |
| Utilities | +0.43% |
| Industrials | -1.11% |
| Energy | -4.77% |
Top 3 and bottom 3 of the 11 sectors, from the price feed against Tuesday’s closes as published. Omitted: materials +3.06%, health care +3.04%, communication services +2.95%, consumer staples +2.95% and technology +0.55%.
Treasury par yield curve
| Maturity | 4 Nov | 3 Nov | Change, bp |
|---|---|---|---|
| 1 month | 4.01 | 4.03 | -2 |
| 3 months | 4.21 | 4.21 | 0 |
| 6 months | 4.25 | 4.26 | -1 |
| 1 year | 4.39 | 4.40 | -1 |
| 2 years | 4.58 | 4.61 | -3 |
| 3 years | 4.64 | 4.68 | -4 |
| 5 years | 4.69 | 4.74 | -5 |
| 7 years | 4.77 | 4.83 | -6 |
| 10 years | 4.90 | 4.95 | -5 |
| 20 years | 5.30 | 5.35 | -5 |
| 30 years | 5.28 | 5.32 | -4 |
The official daily par yield curve from the US Treasury, read at 21:06 GMT, derived per its own method from indicative bid-side quotations at or near 20:30 GMT in winter, its 3:30 pm Eastern reading; the changes are ours. Omitted: 1.5-month 4.08 (-1), 2-month 4.15 (0), 4-month 4.20 (+2).
Commodities
| Contract | Settlement | Change |
|---|---|---|
| Gold, COMEX (Dec’26), dollars an ounce | 4,073.00 | +3.37% |
| Silver, COMEX (Dec’26), dollars an ounce | 52.282 | +5.08% |
| Brent Crude, ICE (Jan’27), dollars a barrel | 94.62 | -8.67% |
| WTI Crude, NYMEX (Dec’26), dollars a barrel | 88.12 | -8.29% |
Wednesday’s settlements as dated 4 November 2026 on the price feed’s settlement fields, measured settlement to settlement against Tuesday’s official settlements, in fixed order.
Currencies, volatility and crypto
| Instrument | Level | Change |
|---|---|---|
| Cboe Volatility Index | 16.61 | -20.26% |
| Bitcoin, dollars | 80,190.80 | +3.16% |
| US Dollar Index (DXY) | 101.51 | -0.35% |
| Euro/Dollar | 1.1229 | +0.32% |
| Sterling/Dollar | 1.3471 | +0.45% |
| Dollar/Yen | 158.45 | -0.13% |
Quotes at 21:06 GMT, in fixed order; snapshots, not settlements; the VIX row is the session’s last reading on the vendor’s feed; changes are measured against the feed’s prior reference levels.
Asia, session of Wednesday 4 November 2026
| Index | Close | Change |
|---|---|---|
| Shenzhen Component (China) | 11,335.69 | +4.22% |
| Shanghai Composite (China) | 3,686.17 | +2.16% |
| Hang Seng (Hong Kong) | 23,919.50 | +1.67% |
| Nifty 50 (India) | 23,960.60 | +0.63% |
| Kospi (South Korea) | 5,683.80 | +0.62% |
| Straits Times (Singapore) | 5,268.63 | -0.01% |
| S&P/ASX 200 (Australia) | 8,834.50 | -0.59% |
| Taiex (Taiwan) | 42,948.91 | -0.83% |
| Topix (Japan) | 3,895.38 | -0.89% |
| Nikkei 225 (Japan) | 62,188.63 | -1.42% |
Carried from our Asia Market Wrap of Wednesday 4 November 2026, gainers then losers; Tokyo’s figures are measured against Monday’s closes, after Tuesday’s holiday.
Middle East, session of Wednesday 4 November 2026
| Index | Close | Change |
|---|---|---|
| DFM General (Dubai) | 6,040.74 | +3.96% |
| EGX 30 (Egypt) | 50,650.18 | +2.83% |
| QE Index (Qatar) | 9,884.17 | +2.81% |
| Tadawul All Share (Saudi Arabia) | 10,038.89 | +1.65% |
| ASE Index (Jordan) | 4,074.22 | +0.91% |
| Boursa Kuwait All-Share (Kuwait) | 8,477.67 | +0.56% |
| MSX 30 (Oman) | 7,261.131 | +0.54% |
| Bahrain All Share (Bahrain) | 1,817.20 | +0.14% |
| FTSE ADX General (Abu Dhabi) | 9,461.41 | -0.02% |
Carried from our Middle East Market Wrap of Wednesday 4 November 2026, gainers then losers; the Bahrain, Muscat, Amman and Dubai pages show their changes without a sign, with the direction from our arithmetic.
Europe, session of Wednesday 4 November 2026
| Index | Close | Change |
|---|---|---|
| IBEX 35 (Spain) | 19,370.90 | +3.00% |
| DAX (Germany), Xetra close | 26,437.67 | +2.22% |
| FTSE MIB (Italy) | 51,031.02 | +2.18% |
| Euro Stoxx 50 (euro area) | 6,265.71 | +1.97% |
| CAC 40 (France) | 8,177.89 | +1.96% |
| SMI (Switzerland) | 15,022.85 | +1.90% |
| Stoxx Europe 600 (Europe) | 657.40 | +1.82% |
| FTSE 100 (UK) | 10,829.21 | +1.79% |
| AEX (Netherlands) | 1,136.29 | +1.30% |
Carried from our Europe Market Wrap of Wednesday 4 November 2026; all nine indices closed higher and the table keeps that wrap’s ranking. The DAX figure is Xetra’s closing price, and the two Stoxx indices carry the administrator’s final values from the price feed.
What to watch: The Bank of England’s rate decision is due on Thursday 5 November, with the November Monetary Policy Report alongside, on the Bank’s calendar.
Correction, 4 November 2026: this page’s earlier edition gave the Nasdaq 100’s intraday change as +1.22%; on the level it showed, the change was +1.21%.
US closes are from the price feed, measured against Tuesday 3 November’s closes as published, with the yield curve from the US Treasury’s own table and run lengths counted against The Edge’s published records; percentages and counts not attributed to a source are The Edge’s calculations.
How these wraps are prepared: Methodology.
Sources: US Department of the Treasury, CNBC, The Edge.
