US stock futures moved higher on Monday, November 2, as investors looked to recover from Friday’s sharp market sell-off. Technology stocks showed early signs of a rebound, while market participants turned their attention to major corporate earnings and upcoming economic data.
Meanwhile, oil prices declined, gold edged higher, and cryptocurrency markets showed signs of recovery following news of a major Binance security breach. Investors are also watching developments in the technology sector, including a proposed deal involving Marvell Technology and Lumentum.
Here are the major market developments investors should watch today.
US Stock Futures Start November on a Positive Note
Wall Street ended October on a mixed note, with technology shares facing significant pressure. The Nasdaq Composite recorded a monthly decline of 5.3%, marking its weakest monthly performance since March 2025. The S&P 500 also finished lower for the month, while the Dow Jones Industrial Average managed to post a gain.
However, US futures pointed towards a stronger opening on Monday. S&P 500 futures gained around 0.5%, while Dow Jones futures advanced 0.5%. Nasdaq 100 futures performed better, rising approximately 0.8%.
Investors are preparing for another eventful week featuring major technology earnings and the latest US employment figures.
In commodities, crude oil prices moved lower following reports that US President Donald Trump preferred diplomatic negotiations over renewed military action against Iran after the midterm elections. WTI crude futures dropped around 4.5%, falling below $100 per barrel. International crude prices also declined, although by a smaller amount.
Gold prices moved in the opposite direction, gaining approximately 0.4% to trade near $3,915 per ounce.
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Technology Stocks Show Early Recovery Signals
Technology shares attracted buying interest during Monday’s premarket session after last week’s weakness. Several semiconductor and technology-focused ETFs recorded early gains.
The Roundhill Memory ETF climbed nearly 4%, while the iShares Semiconductor ETF advanced around 2%. SpaceX-linked shares gained approximately 2%, and Nvidia moved more than 1% higher. The Roundhill Magnificent Seven ETF also added around 0.5%.
Investors are likely to monitor these stocks closely as major technology companies prepare to announce their quarterly financial results.
The sector also received significant deal-related news. Marvell Technology and Lumentum announced plans for a transaction that values Lumentum at an enterprise value of approximately $115 billion. However, both stocks showed limited movement in early trading.
Intel remained under pressure. After plunging nearly 29% on Friday, the company’s shares slipped another 0.6% in premarket trading.
Third-Quarter Earnings Season Reaches Its Midpoint
The US corporate earnings season has moved beyond its halfway point, with approximately 60% of S&P 500 companies having reported their third-quarter results, according to FactSet.
So far, more than 80% of reporting companies have delivered earnings above analyst expectations. However, the size of these earnings surprises has been smaller compared with previous years.
The blended earnings growth rate for the S&P 500 remains above 30%, combining reported results with estimates for companies yet to announce their numbers. Corporate profit margins have also remained relatively strong by historical standards.
Investors will closely examine upcoming results to understand whether companies can maintain their growth momentum despite market volatility and economic uncertainty.
Cryptocurrency Prices Recover After Binance Security Breach
Cryptocurrency markets experienced pressure last week following reports of a major security breach involving Binance. The exchange reported that the incident affected more than $6 billion in holdings, raising concerns among investors about platform security and potential market disruption.
The news contributed to a decline in Bitcoin prices and shares of several cryptocurrency-related companies on Friday.
However, the situation appeared more stable on Monday. Binance indicated that it would restore withdrawals and had covered approximately 90% of the affected funds.
Bitcoin recovered to around $78,000, trading above its late-Friday levels. Shares of Strategy and Circle Internet also showed positive momentum before the market opened. Coinbase, however, traded approximately 1% lower.
Investors will continue monitoring developments at Binance and their potential impact on confidence across the cryptocurrency market.
Apple and Palantir Earnings in Focus
Apple and Palantir are among the major companies scheduled to release their quarterly financial results after Monday’s market close.
Apple’s upcoming earnings announcement is particularly important because it marks the company’s first report under its new CEO, John Ternus, following Tim Cook’s departure from the position.
According to Visible Alpha’s average analyst estimates, Wall Street expects Apple to report quarterly revenue of approximately $113.6 billion and net income of around $29.2 billion.
Meanwhile, investors are also waiting for results from data analytics company Palantir. Analysts expect the company to generate approximately $2.2 billion in revenue and $969 million in net income.
Before the opening bell, Apple shares remained relatively unchanged, while Palantir stock gained more than 1%.
Both earnings reports could influence investor sentiment towards technology stocks and provide fresh insight into corporate spending, artificial intelligence demand and business growth.
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