BriefZip

Wall Street split again on Tuesday, November 3, 2026, as Americans voted in the midterm elections. A rebound in chip stocks lifted the Nasdaq Composite 0.83% , while the Dow Jones Industrial Average slipped 0.38% as Apple fell. September job openings came in above expectations, Apple's record quarter was overshadowed by a softer margin outlook, and Palantir reported that revenue nearly doubled from a year earlier. This briefing walks through the market close, the jobs data and the two company reports, with the numbers explained and what to watch next. Stocks: chips bounce back on Election Day The Nasdaq Composite closed at 25,372.01, up 207.65 points. The S&P 500 gained 27.52 points, or 0.36%, to 7,568.92. The Dow fell 197.26 points, or 0.38%, to 51,786.72. Chip stocks had sold off hard the previous session, and many of them recovered on Tuesday. Because the Nasdaq Composite is heavily weighted toward technology companies, it tends to move most when semiconductors and so...

South Korea is changing how shares in initial public offerings are handed out. Institutions that promise to hold IPO shares for at least six months will be able to receive part of an offering in advance , under a cornerstone investor system set to take effect on Nov. 13. The Financial Services Commission, the country's top financial regulator, said the Cabinet approved the enabling amendment to the enforcement decree of the Capital Markets Act on Nov. 3. The decree will be promulgated in November and is scheduled to apply from Nov. 13, the date the amended law takes effect. The idea is simple: give priority to investors who will stay, rather than to those who may sell on the first day of trading. Here is how the system works, what the limits are and why the regulator is introducing it. What a cornerstone investor is IPO shares are offered to public investors when a company lists, and may include newly issued shares or existing shares sold by shareholders. In Korea, institutiona...

South Korea's navy and its arms procurement agency launched the 3,600-ton diesel submarine Seo Hui on Nov. 3 at Hanwha Ocean's Okpo shipyard on Geoje Island. The boat carries 70 domestically made systems , 12 more than the previous submarine class, including a Korean-built lithium battery system. It is not finished yet: after sea trials, it is scheduled to be delivered to the navy in 2028. The launch matters for two reasons. First, the battery choice changes how long a diesel submarine can stay hidden underwater. Second, the higher share of locally made equipment is meant to speed up maintenance at home and make Korean submarines easier to sell abroad. Both points come from the joint statement issued by the Defense Acquisition Program Administration (DAPA), South Korea's weapons procurement agency, and the Republic of Korea Navy. What kind of submarine is Seo Hui Seo Hui, hull number SS-088, is the second boat of Batch-II of the KSS-III program, also called Jangbogo-III...

South Korean stocks had a rough Tuesday. The benchmark KOSPI fell 3.59% on Nov. 3, and the tech-heavy KOSDAQ dropped 4.08%. On the same day, the government finalized the details of a new rule that lets long-term institutional investors receive IPO shares in advance, Kia announced a plan to supply electric vans to a major Japanese taxi operator, and the navy launched a new 3,600-ton submarine built with 70 domestically made systems. Here is what happened and why it matters. Stocks: a broad sell-off The KOSPI, which tracks large companies listed on the Korea Exchange's main board, closed at 5,648.79, down 210.29 points. The KOSDAQ, Korea's smaller market dominated by technology and biotech growth companies, closed at 704.39, down 29.97 points or 4.08%. Both indexes stayed weak through the session. Market commentary pointed to the burden of heavy artificial intelligence investment and the funding needed to pay for it, even though international oil prices were lower. On Nov....

Marvell Technology agreed on Nov. 2 to acquire Lumentum in an all-stock deal valued at about $115 billion in enterprise value. No cash changes hands: Lumentum holders receive Marvell shares. The deal is expected to close in the first half of 2028. Why Marvell wants Lumentum Marvell designs chips that move electrical signals between processors and servers inside data centers, along with custom AI chips. Lumentum makes lasers, optical transceivers and optical circuit switches that send data as light. The companies said copper links are hitting speed and power limits as AI data centers grow, accelerating the shift to optical connections. Optical transceiver: a part that turns electrical signals into light for fiber links, and back again on the other end. The strategic point is that faster processors are useful only when the rest of the system can keep them supplied with data. Electrical chips, network equipment and optical components perform different jobs along that path. Marvell i...

Samsung Biologics, a South Korean contract drugmaker, has asked its labor union to push back wage and collective bargaining talks that were scheduled to start on Nov. 3 by two weeks . The union rejected the idea and said it would go ahead with the industrial action it had already planned. Why the company wants a pause Samsung Biologics makes biologic drugs on behalf of other pharmaceutical companies. The two sides agreed on Oct. 28 to resume talks in the first week of November. The company says that on Oct. 30 the union demanded, in an official letter, that the company's lead negotiator be removed and replaced. It also says the union kept up pressure by preparing a strike and turning to its umbrella labor federation while talks were being arranged. The company said holding talks under those conditions would further damage trust, and proposed a two-week cooling-off period. It added that it was ready to resume talks during the two weeks if the union stopped its pressure and reque...

Wall Street split on Monday, Nov. 2. Crude oil fell more than 7% intraday on hopes for a US-Iran diplomatic breakthrough, while the Dow rose 0.41%, while the tech-heavy Nasdaq Composite slid 1.07%. Factory data came in strong, and two big corporate deals landed in the chip and cloud space. Stocks and oil The Dow closed at 51,983.98, up 213.67 points. The S&P 500 fell 0.51% to 7,541.40, and the Nasdaq dropped 272.68 points to 25,164.32. Market commentary described the day as a rotation out of technology stocks. The three benchmarks do not hold the same mix of companies. The Dow follows 30 large blue-chip businesses and is price-weighted, so a company's share price affects its influence. The Nasdaq Composite has a particularly large technology presence, while the S&P 500 covers a broader group of large US companies. A rise in the Dow alongside a decline in the other two is therefore not a contradiction: it shows that the day's gains and losses were distributed uneve...