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The Dow jumped 1,569 points on Wednesday as the midterm result reset expectations for Washington. Oil fell more than 8%, giving consumer businesses a different backdrop while punishing energy shares. Democrats won
Qualcomm shares fell 10% after earnings; analysts cut targets citing margin pressure, handset risks, while data-center growth remains strong.
SpaceX stock (SPCX) fell 7.5% following Democratic victories in midterm elections, as investors worry new regulations on data centers and AI could threaten a significant portion of the company's business. However, the analyst suggests that stricter Earth-based data center regulations could actually benefit SpaceX's space-based data center solution.
Nvidia, Micron and eight other AI stocks fell below their 200-day moving average this week as the midterm vote hit AI spending bets.
Sandisk (NASDAQ: SNDK) fell almost 8% premarket as post-midterm tech rotation hit memory chips, leaving analysts divided over further downside or a year-end rally.