Election Week on Wall Street: Ballots, Big Earnings and a Jobs Report Collide

Investors head into Tuesday's midterms still shaken by an AI selloff, with Apple, AMD and Palantir reporting and October jobs data due Friday. Here is what the money is watching, and why energy and the broader market have been doing the heavy lifting.

By Clara Hughes

Wall Street has rarely had a week like the one starting Monday. Americans vote on Tuesday. More than 100 S&P 500 companies report earnings. And on Friday, the government releases the October jobs report. Investors will get all of it at once, Reuters reported in its weekly market preview. They are arriving a little bruised. On Friday, the S&P 500 fell 1.82% to 7,580.07 and the Nasdaq Composite fell 2.86% to 25,437.00, while the Dow Jones Industrial Average lost 572.25 points to 51,770.31, according to Reuters. The trigger was fear that massive AI spending by big technology companies is burning through cash faster than it is producing returns. But there is a second story under the headlines, and it is a good one for the American economy. Third-quarter growth was the fastest in a year, the Federal Reserve upgraded its assessment of the economy last week, and corporate earnings are on pace for a 31% jump, according to Reuters. And as tech stumbled, other parts of the