Markets Roundup Nov 2: Stocks Rebound, Sensex Soars, Bitcoin Steady

US stocks opened November on a steadier foot on Monday, November 2, bouncing after Friday's sharp selloff in AI shares, while India's Sensex closed up 1,233 points on a record Reliance profit and Bitcoin held near $78,000. Futures had pointed up before the open, with Nasdaq 100 futures up 0.84 percent, S&P 500 futures up 0.51 percent and Dow futures up 0.55 percent as of 5:38 a.m. ET, according to TipRanks. In early trading the S&P 500 rose 0.5 percent, the Nasdaq gained 0.7 percent and the Dow added nearly 400 points, TradingView reported.

The bounce follows a rough Friday, October 30. The S&P 500 closed that day at 7,580.07, down 1.82 percent, the Nasdaq fell 2.86 percent to 25,437 and the Dow lost 1.09 percent to 51,770 as investors sold the AI trade. Intel fell about 29 percent on Friday and slipped a further 0.6 percent in premarket trading on Monday. On Monday morning Amazon rose 3.3 percent, Tesla gained 2.4 percent and Nvidia added 1.6 percent, while Apple eased 0.6 percent and Palantir fell 0.3 percent ahead of their results.

The finance story: Apple and Palantir after the close

The day's main event comes after the bell. Apple and Palantir both report on Monday evening. Analysts surveyed by Visible Alpha expect Apple revenue of $113.6 billion and net income of $29.2 billion, Investopedia reported, in the first results under chief executive John Ternus. Palantir is expected to post $2.2 billion in revenue and $969 million in net income. The reports land in a market that just punished AI spending, so guidance on data center and AI costs will matter as much as the headline numbers. The week also brings the October US jobs report on Friday, November 6, and the midterm elections on Tuesday, November 3.

Crypto overnight

Bitcoin traded near $78,097 on Monday, up 0.67 percent over 24 hours in the BTC Today snapshot, with Bitcoin dominance near 60 percent of a total crypto market value of about $2.63 trillion. Ether traded around $2,275 in KuCoin's November 2 market report. The Crypto Fear and Greed Index sat at 37, in Fear territory. US spot Bitcoin ETFs saw about $643 million leave in a single session on Friday, October 30, after the Binance hack, a flow the Bitcoin analysis in today's edition breaks down in full. Strategy, the largest corporate Bitcoin holder, said on Monday it bought 811 Bitcoin for about $65.5 million, taking its holdings to 849,327 Bitcoin, in a separate story published by Orbit Post this morning.

India: Sensex closes up 1,233 points

Indian shares had their best day in weeks. The BSE Sensex closed at 75,692.78, up 1,233.25 points or 1.66 percent, and the Nifty 50 settled at 23,440.80, up 387.70 points or 1.68 percent, according to HDFC Sky's close report. Reliance Industries jumped 11.6 percent, its strongest single day since April 2020, after reporting a record quarter. Profit attributable to owners rose 40.6 percent from a year earlier to Rs 25,548 crore, and total profit including associates reached Rs 29,550 crore. Easing crude helped: Brent futures fell 4.27 percent to $108.68 a barrel in TipRanks' morning snapshot as hopes rose for Iran talks.

What it means for ordinary money

For savers and 401(k) holders, Monday's bounce only claws back part of Friday's drop, and the week ahead is stacked with events that can move accounts again: Apple and Palantir tonight, the election on Tuesday and the jobs report on Friday. The 10-year Treasury yield sits near 5 percent, which keeps mortgage rates high and savings yields generous at the same time. One up morning after a 2.86 percent Nasdaq fall is a reminder to check allocations on a schedule, not on a headline.

Key numbers

• S&P 500: up 0.5 percent in early Monday trading, after closing Friday down 1.82 percent at 7,580.07
• Nasdaq: up 0.7 percent early Monday, after a 2.86 percent Friday fall to 25,437
• Sensex: closed up 1,233.25 points (1.66 percent) at 75,692.78; Nifty 50 up 1.68 percent at 23,440.80
• Reliance Industries: up 11.6 percent, its best day since April 2020
• Bitcoin: near $78,097, up 0.67 percent in 24 hours; Fear and Greed Index at 37 (Fear)
• Brent crude: down 4.27 percent to $108.68 a barrel in the morning snapshot

This is not financial advice. Do your own due diligence.