---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000971622.md"
description: "The midterms-fueled rotation continued (SPX -0.1%, NDX -0.7%), with economically sensitive and consumer names outperforming chipmakers. Brent rose +1.3% to $96/bbl after yesterday’s 8% drop; the 10-year yield eased to 4.87%. The rotation in Asia was even more extreme, with Samsung and SK Hynix falling over 7% on post-Democratic data-center regulation fears. Tech was mixed ($NVIDIA(NVDA.US) flat; $Micron Tech(MU.US), $Marvell Tech(MRVL.US), $Dell Tech(DELL.US) down; $Alphabet - C(GOOG.US), $Meta Platforms(META.US) up) and Musk-led names retreated further ($Tesla(TSLA.US) -1.7%, $SpaceX(SPCX.US) -1.1%) following Dems’ midterm sweep. Robust 2026 S&P EPS estimates (+33% to $369) imply a 20.8x P/E (4.8% yield,  just below Treasury yields), with further yield declines expected as the Iran war ends. We remain cautious on $Tesla(TSLA.US) given its 220x 2026 P/E (PEG 5.0x) amid continued commoditization of autonomy and persistent negative revisions."
datetime: "2026-11-05T10:38:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000971622.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000971622.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000971622.md)
author: "[Gary Black Tracker](https://longbridge.com/en/profiles/17077344.md)"
generator: "portal-rs"
---

# The midterms-fueled rotation continued (SPX -0.1%,…


### Related Stocks

- [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md)
- [BNO.US](https://longbridge.com/en/quote/BNO.US.md)
- [DELL.US](https://longbridge.com/en/quote/DELL.US.md)
- [META.US](https://longbridge.com/en/quote/META.US.md)
- [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md)
- [METAM.US](https://longbridge.com/en/quote/METAM.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md)

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