---
title: "☕️ [Task Coins Giveaway] Daily Market Talk — DBS Misses as Midterms Lift the Dow"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000971128.md"
description: "Democrats swept Congress and the Dow had its best post-midterm day in 44 years, but chipmakers sank as voters turned on AI data centres. At home, DBS missed forecasts, the second big local bank to stu..."
datetime: "2026-11-05T03:12:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000971128.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000971128.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000971128.md)
author: "[Captain's Watch](https://longbridge.com/en/profiles/24747427.md)"
generator: "portal-rs"
---

# ☕️ [Task Coins Giveaway] Daily Market Talk — DBS Misses as Midterms Lift the Dow

Democrats swept Congress and the Dow had its best post-midterm day in 44 years, but chipmakers sank as voters turned on AI data centres. At home, DBS missed forecasts, the second big local bank to stumble this week. Let's dig in 👇

**💬 The same election lifted Big Tech and sank chips. Which side of that split are you on?**

## 📊 Quick Recap — What Moved & Why

### 🇺🇸 US — Midterms Split Wall Street

**🔑 Key Event:** The $Dow Jones Industrial Average(.DJI.US) jumped **+3.03%** as Democrats swept Congress, led by $Microsoft(MSFT.US) **+6.68%** and $Amazon(AMZN.US) **+6.12%**. **Chips sank as voters rejected data centres in 40 of 41 local ballots.**

**👀 Other to Watch**

-   $S&P 500(.SPX.US) **+1.58%**, $NASDAQ Composite Index(.IXIC.US) **+1.44%**, trailing the Dow as data-centre names weighed.
-   $Apple(AAPL.US) → **+5.31%** to a record close, erasing its post-earnings slide as the election lifted Big Tech.
-   **Chips** → $NVIDIA(NVDA.US) **-3.17%**, $Micron Tech(MU.US) **-7.00%** and $Sandisk(SNDK.US) **-7.91%**, at their lowest since late April.
-   **Earnings** → $Qualcomm(QCOM.US) and $Arm(ARM.US) both slipped after hours, on weak phone sales and a soft outlook.
-   $Coherent Corp.(COHR.US) → **-5.98%** as optical names sank, then rose after hours on strong guidance.

> @Gene Munster : Slower capex spend for data centers should ease memory component pricing, which is positive for margins long term.

> @dingdongbell : Once the midterm elections are done and dusted, that will remove the uncertainty that makes markets edgy.

### 🇸🇬 Singapore — DBS Misses Too

**🔑 Key Event:** $DBS(D05.SG) dips this morning after profit fell 5% to S$2.81 billion, missing forecasts as trading income plunged 65%. **Chairman Peter Seah will retire in December, handing over to Anthony Lim.**

**👀 Other to Watch**

-   $FTSE Straits Times Index(STI.SG) up about **+0.3%** near 5,285 this morning after Wednesday's flat 5,268.63 close, as REITs offset banks.
-   **Banks** → $UOB(U11.SG) still slips this morning, while $OCBC Bank(O39.SG) edges up before Friday's results.
-   $Grab(GRAB.US) → **+7.69%** on Wednesday, up about 24% in three sessions after raising its full-year outlook.

> @TheInvestingIguana : Two banks have reported in two days, and both missed forecasts. One word, "missed", covers two different lines.

> @Fattycat : Headline numbers don't tell the whole story! Quarterly market volatility affected trading income, but DBS's underlying franchise is performing remarkably well.

### 🇭🇰 HK/China — Tech Rally Gathers Pace

**🔑 Key Event:** The $Hang Seng Index(00HSI.HK) is up about **+3%** near 24,700 this morning after Wednesday's **+1.67%** close at 23,919.50. $MEITUAN(03690.HK) **and** $XIAOMI-W(01810.HK) **jump 8% to 9% as beaten-down tech rebounds.**

> @Fattycat : My Xiaomi position has crossed into positive territory. My belief in the business has not wavered. Great companies take time.

### 🌎 Other to Watch

-   **🛢️ Oil** → Brent settled **-8.67%** at $94.62, its first close below $100 since 7 October, on Iran peace hopes that Tehran's leader dismissed.
-   **🪙 Gold** → jumped about 3% on Wednesday, its biggest gain since August, as oil and the dollar fell, and holds above $4,100 this morning.

## 📅 Upcoming Key Events

| When (SGT) | What |
| ---------- | ---- |

👇 Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨  
🚫 No duplicates · ⏰ Deadline: Nov 5, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏

### Related Stocks

- [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md)
- [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md)
- [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md)
- [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md)
- [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md)
- [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md)
- [QCOM.US](https://longbridge.com/en/quote/QCOM.US.md)

## Comments (35)

- **NewUser_vB60x777 · 2026-11-05T16:11:00.000Z**: yeah
- **NewUser_ThinkSwim · 2026-11-05T15:23:51.000Z**: Market opening to drop after the huge gap up yesterday in the late trading hours. Trade careful and cautious for sudden movement. Might be caused by sudden factors despite the US election just over. Not financial advice.
- **NewUser_zS0M8w  · 2026-11-05T15:15:18.000Z**: STI recovers slightly while semiconductor stocks continue the slide. $700 billion was wiped out from the stock market during open, erasing yesterday's gains.
- **optionspuppy · 2026-11-05T14:13:54.000Z**: 🌍 My Market Take🛢️ Oil falling 8.67% to US$94.62 is significant. Hopes of Middle East peace could reduce inflationary pressure and benefit consumers.🥇 Gold rising 3% shows investors are still looking for safe-haven assets. A weaker US dollar is also providing support.📊 Friday will be important, with
- **PSChua · 2026-11-05T14:09:14.000Z**: cannot more agree that with the midterms done and dusted, there is less uncertainty. additionally, there should be less market volatility moving forward as the POTUS would be more constrained
- **TheRaccoonAnalysis · 2026-11-05T13:06:16.000Z**: The Dow’s 3.03% rally, led by Microsoft and Amazon, suggests investors interpreted the Democratic congressional gains as positive for large-cap technology and broader market sentiment. However, the sharp contrast between gains in software/cloud leaders and weakness in semiconductor stocks highlights
- **win win · 2026-11-05T09:42:49.000Z**: Mid term election in the USA. The results of the USA Mid Term election already showed that Iran is a big big winner, are you agree ?
- **The · 2026-11-05T07:14:19.000Z**: Dow Jones Industrial Average, Microsoft, Amazon, S&P 500, Nasdaq Composite Index, and Apple US stocks rise.Focus is on Singapore stock DBS Bank for their profit fell 5% and dips this morning. Chairman Peter Seah will be retiring and passes the chairman work to Anthony Lim. Local stocks for Strai
- **dingdongbell · 2026-11-05T07:07:48.000Z**: The selling in AI tech names shows what fear can do in high-beta names. AI spending is going to continue. And the market will realise this.
- **Heroic Lifesaver · 2026-11-05T07:00:29.000Z · 👍 1**: Tech is on sale. Literally! Nothing much has changed fundamentally IMO. This is what sentiment-driven selling looks like.
  - **Vt3** (2026-11-05T10:20:23.000Z): Christmas sale 😂
- **Valenxis · 2026-11-05T06:11:37.000Z · 👍 1**: AI, semicon, chips stocks are facing downward pressures, their share price are dropping as democrats maybe gonna get tougher with most of them. or maybe could be just a few bad news now, it will be gone soon in a bit and they will rally? meanwhile usd dip a little and gold pushes up.
- **Darkwinter · 2026-11-05T06:01:22.000Z · 👍 1**: The US stock market rockets due to certainty but it’s coming down again as the macro fundamentals have not changed, and not sure what actions the political parties will try after holding congress.
  - **Ethan1** (2026-11-05T10:10:09.000Z): It was not uniform either. Apple closed up over 5 percent at 349.51 the same session the chip names were being sold.
- **NewUser_CkrdqW  · 2026-11-05T05:50:56.000Z · 👍 1**: The semiconductor sector is really weak as even stable stocks like Nvidia and ASML have fallen rapidly over the past 2 weeks. A rotation out of AI into more defensive stocks perhaps? Overall broader market still hasn't calmed down despite last night's rally.
  - **JeremyT** (2026-11-05T10:38:22.000Z): The damage is not evenly spread though. Marvell fell about 7 percent that session against roughly 3 percent for both of the names you picked.
- **Shyon · 2026-11-05T05:32:04.000Z · 👍 1**: I think the market is showing an interesting divergence between short-term sentiment and long-term fundamentals. I remain positive on Big Tech, especially companies with strong cash flow, established AI ecosystems and the ability to turn AI investments into real earnings. However, the weakness in ch
- **Fattycat · 2026-11-05T05:10:12.000Z · 👍 2**: As I have shared before, history shows the US market tends to rally after midterm elections and that pattern has played out again this time.The numbers don’t lie 😁. Looking ahead though, I think trading cryptocurrencies like Bitcoin and Ethereum could get much tougher. The incoming Congress appears 
- **新用戶_POEYmH · 2026-11-05T05:01:23.000Z · 👍 1**: With the US Democrats in power, US chip stocks, AI, and even broader tech stocks are being suppressed. Last night, over 80% of stocks were wiped out, with several turning into meme stocks? 😓This morning, DBS Bank's earnings report came out. Amidst global turmoil and unstable inflation factors, deliv
- **Fattycat · 2026-11-05T04:54:06.000Z · 👍 1**: Gold has rallied nicely following the US midterm elections. Price is going to test resistance at US$4,155. Will the celebration continue from here?
- **KXN · 2026-11-05T04:38:30.000Z · 👍 1**: Results came out as expected. Now it’s time to reverse and go for a bull market! Been a volatile period for long 😂
- **kailash · 2026-11-05T04:26:44.000Z · 👍 2**: ​On the domestic front, DBS missing third-quarter profit estimates highlights the shifting macro backdrop. With weaker markets trading income weighing down non-interest channels and interest rates normalizing, local banks are entering a period where net interest margin (NIM) expansion is no longer a
  - **Fattycat** (2026-11-05T04:58:44.000Z): Yes. You are right. Fed is likely to increase interest rate if inflation stays at current level. It will dampen the lending business and more bankruptcies likely to surface, higher NPL. Prepare for mo
  - **Captain Leo** (2026-11-05T14:34:45.000Z): Breaking down the miss into its two drivers, instead of one headline number, is the useful part. That way anyone can check each quarter which piece is actually doing the moving
- **jho77 · 2026-11-05T04:26:13.000Z · 👍 1**: As expected


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