In this weekly market recap focused on the Nasdaq Composite outlook November 2026, Hardika Singh reviews the index’s move into correction territory following the U.S. midterm elections and places it in the context of broader equity and crypto performance, including the S&P 500 and Bitcoin (BTC-USD). The report summarizes how a Democratic sweep of Congress intersected with investor concerns around potential data center moratoriums, and how these policy worries filtered through to artificial intelligence–related names such as Nvidia (NVDA), Micron Technology (MU), and Broadcom (AVGO). Singh also highlights sentiment data from the American Association of Individual Investors and references recent market shocks, including the DeepSeek, Liberation Day, and Situational Awareness episodes.
The report details comments from Fundstrat Head of Research Tom Lee on the longer-term artificial intelligence buildout and supply-demand dynamics for semiconductors, memory, power, and infrastructure, as well as technical observations around the Nasdaq 100’s momentum and its relationship to key trend measures. It also summarizes Head of Technical Strategy Mark Newton’s take on post-election volatility, sector bifurcation between equal-weight and cap-weight S&P 500 measures, and his ongoing sector preferences. Beyond AI and tech, Singh reviews macro and fundamental backdrops such as oil prices, Treasury yields, the October 2026 U.S. jobs report, S&P 500 earnings trends, plus notable corporate and geopolitical developments, including CVS Health’s announced breakup, Marvell Technology’s deal for Lumentum, European aviation bomb threats, and other global political events. Full analysis, charts, and the analysts’ views are available in the complete report.
