---
title: "TradingKey Daily Market Briefing: Oil Slumps 8%, Apple and PLTR Earnings Beat Expectations, Marvell Tumbles Over 12%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304028759.md"
description: "US stocks closed mixed on Nov 2, with the Dow rising 0.41% while the S&P 500 and Nasdaq fell. Oil prices slumped over 8%, easing energy costs. Apple beat earnings expectations with 12% revenue growth, and Palantir surged 96% YoY. Conversely, Marvell tumbled 12.72% following its $115 billion all-stock merger announcement with Lumentum. China's October manufacturing PMI dropped to 49.3."
datetime: "2026-11-03T00:50:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304028759.md)
  - [en](https://longbridge.com/en/news/304028759.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304028759.md)
generator: "portal-rs"
---

# TradingKey Daily Market Briefing: Oil Slumps 8%, Apple and PLTR Earnings Beat Expectations, Marvell Tumbles Over 12%

## Tracking Market Trends

TradingKey - On November 2 ET, an early rally in U.S. stocks failed to hold, as weakness in AI and tech stocks dragged down the S&P 500 and the Nasdaq. A sharp drop in oil prices eased energy cost pressures, strengthening fuel-sensitive sectors such as airlines and cruise operators, but failed to reverse selling pressure in tech stocks.

The Dow Jones Industrial Average rose 0.41% to close at 51,989.19; the S&P 500 Index fell 0.51% to close at 7,541.40; and the Nasdaq Composite Index fell 1.07% to close at 25,164.32.

Among individual stocks, Micron (MU) fell 5.78%, while Oracle (ORCL) dropped 8.76%. Marvell (MRVL) fell 12.72% and Lumentum (LITE) plunged 18.59%, as both came under pressure after announcing an all-stock merger.

In commodities, Brent crude (UKOIL) stood at $104.33, closing down 8.01%; WTI crude (USOIL) stood at $96.25, down about 6.5%. Progress in mediation involving Iran and Qatar raised market expectations for conflict de-escalation, easing some Middle East supply risk premium, though no ceasefire agreement has been reached yet.

In precious metals, spot gold (XAUUSD) stood at $3,946.720 per ounce, up 1.8%.

In cryptocurrencies, Bitcoin (BTC) was trading at around $76,816, down 1.96%, continuing to trade below the $80,000 level.

## Market News

****Apple's quarterly revenue rises 12%, with new CEO's first earnings report beating expectations.**** Apple (AAPL) fourth-fiscal-quarter revenue grew 12% to $114.5 billion, with net income of $30.71 billion and earnings per share of $2.10, exceeding market expectations. Its stock fell 1.8% during regular trading hours and was broadly flat in after-hours trading.

****Palantir's quarterly revenue rises 96%, lifts fourth-quarter revenue outlook.**** Palantir (PLTR) third-quarter revenue was $2.313 billion, up 96% year-over-year; U.S. commercial revenue grew 148% to $984 million; GAAP earnings per share were $0.44. The company expects fourth-quarter revenue to be $2.649 billion to $2.653 billion.

****Marvell to acquire Lumentum for $115 billion.**** Marvell and Lumentum announced an all-stock merger agreement, valuing Lumentum at an enterprise value of approximately $115 billion. Lumentum shareholders will receive 4.5 Marvell shares for each share of Lumentum held; upon completion of the transaction, existing Marvell shareholders are expected to hold approximately 67% of the combined company.

****China's October manufacturing PMI falls to 49.3.**** Data from the National Bureau of Statistics showed that the manufacturing PMI in October dropped 0.8 percentage points from September to 49.3; the production index was 49.8, and the new orders index was 49.4. The non-manufacturing business activity index and the composite PMI output index were both 49.7.

## Top 10 Most Active Stocks

The table below lists the ten most actively traded stocks in the latest market. Supported by massive trading volume and excellent liquidity, these assets have become key benchmarks for tracking global market dynamics.

Find out more

### Related Stocks

- [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md)
- [LITE.US](https://longbridge.com/en/quote/LITE.US.md)
- [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [ORCL.US](https://longbridge.com/en/quote/ORCL.US.md)
- [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md)
- [AAPB.US](https://longbridge.com/en/quote/AAPB.US.md)
- [AAPD.US](https://longbridge.com/en/quote/AAPD.US.md)
- [AAPE.US](https://longbridge.com/en/quote/AAPE.US.md)
- [AAPU.US](https://longbridge.com/en/quote/AAPU.US.md)
- [AAPW.US](https://longbridge.com/en/quote/AAPW.US.md)
- [AAPX.US](https://longbridge.com/en/quote/AAPX.US.md)
- [AAPY.US](https://longbridge.com/en/quote/AAPY.US.md)
- [APLY.US](https://longbridge.com/en/quote/APLY.US.md)
- [DDM.US](https://longbridge.com/en/quote/DDM.US.md)
- [DIA.US](https://longbridge.com/en/quote/DIA.US.md)
- [DXD.US](https://longbridge.com/en/quote/DXD.US.md)
- [IOSX.US](https://longbridge.com/en/quote/IOSX.US.md)
- [IVV.US](https://longbridge.com/en/quote/IVV.US.md)
- [LITC.US](https://longbridge.com/en/quote/LITC.US.md)
- [LITG.US](https://longbridge.com/en/quote/LITG.US.md)
- [LITU.US](https://longbridge.com/en/quote/LITU.US.md)
- [LITX.US](https://longbridge.com/en/quote/LITX.US.md)
- [LITZ.US](https://longbridge.com/en/quote/LITZ.US.md)
- [MRVU.US](https://longbridge.com/en/quote/MRVU.US.md)
- [MRVX.US](https://longbridge.com/en/quote/MRVX.US.md)
- [MUD.US](https://longbridge.com/en/quote/MUD.US.md)
- [MULL.US](https://longbridge.com/en/quote/MULL.US.md)
- [MUU.US](https://longbridge.com/en/quote/MUU.US.md)
- [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md)
- [MVLL.US](https://longbridge.com/en/quote/MVLL.US.md)
- [ORAC.US](https://longbridge.com/en/quote/ORAC.US.md)
- [ORCS.US](https://longbridge.com/en/quote/ORCS.US.md)
- [ORCU.US](https://longbridge.com/en/quote/ORCU.US.md)
- [ORCX.US](https://longbridge.com/en/quote/ORCX.US.md)
- [ORCZ.US](https://longbridge.com/en/quote/ORCZ.US.md)
- [PLA.US](https://longbridge.com/en/quote/PLA.US.md)
- [PLIB.US](https://longbridge.com/en/quote/PLIB.US.md)
- [PLOO.US](https://longbridge.com/en/quote/PLOO.US.md)
- [PLT.US](https://longbridge.com/en/quote/PLT.US.md)
- [PLTA.US](https://longbridge.com/en/quote/PLTA.US.md)
- [PLTD.US](https://longbridge.com/en/quote/PLTD.US.md)
- [PLTG.US](https://longbridge.com/en/quote/PLTG.US.md)
- [PLTL.US](https://longbridge.com/en/quote/PLTL.US.md)
- [PLTU.US](https://longbridge.com/en/quote/PLTU.US.md)
- [PLTW.US](https://longbridge.com/en/quote/PLTW.US.md)
- [PLTY.US](https://longbridge.com/en/quote/PLTY.US.md)
- [PLTZ.US](https://longbridge.com/en/quote/PLTZ.US.md)
- [PLYY.US](https://longbridge.com/en/quote/PLYY.US.md)
- [PTIR.US](https://longbridge.com/en/quote/PTIR.US.md)
- [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md)
- [SDS.US](https://longbridge.com/en/quote/SDS.US.md)
- [SH.US](https://longbridge.com/en/quote/SH.US.md)
- [SPDN.US](https://longbridge.com/en/quote/SPDN.US.md)
- [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md)
- [SPUU.US](https://longbridge.com/en/quote/SPUU.US.md)
- [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md)
- [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md)
- [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md)
- [SPY.US](https://longbridge.com/en/quote/SPY.US.md)
- [SSO.US](https://longbridge.com/en/quote/SSO.US.md)
- [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md)
- [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md)
- [VOO.US](https://longbridge.com/en/quote/VOO.US.md)
- [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md)
- [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md)
- [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md)

## Related News & Research

- [BUZZ-Marvell Technology falls after report of advanced talks to acquire Lumentum](https://longbridge.com/en/news/303458127.md)
- [Marvell-Lumentum Merger: What a Potential $80 Billion AI Deal Means for MRVL and LITE](https://longbridge.com/en/news/303508931.md)
- [Oracle unveils AI data agents to transform business insights](https://longbridge.com/en/news/303878179.md)
- [Micron Technology, Inc. $MU Stock Sold by Nippon Life Global Investors Americas Inc.](https://longbridge.com/en/news/303958506.md)
- [GRIMES & Co WEALTH MANAGEMENT LLC Sells 10,441 Shares of Micron Technology, Inc. $MU](https://longbridge.com/en/news/304086625.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**