EB Daily Market Report - Brief Update - Tuesday, November 3, 2026
NASDAQ stocks are rebounding a bit today as the recent rotation reverses. Action is definitely bifurcated, however, as the Dow Jones is down over 200 points at last check.
Leadership has reversed, as technology (XLK, +1.14%) shows strength, most of which occurred at the opening bell and during the first 15-20 minutes this morning. Industrials (XLI, +0.89%) and communication services (XLC, +0.76%) are the other two sectors in positive territory.
Meanwhile, many of the interest-rate-sensitive areas like small caps (IWM, +0.32%), regional banks (KRE, -0.78%), homebuilders (XHB, -2.45%), and transports ($TRAN, +0.06%) are underperforming on a relative basis as the 10-year treasury yield ($TNX) moves up to 4.95%.
Energy (XLE, -0.56%) is down for a second consecutive day as crude oil ($WTIC, +0.22%) whipsaws today between $94 and $99 per barrel.
We corrected the first two Upcoming Earnings ChartLists for this week (the 11/2 BMO ChartList and the 11/2 AMC-11/3 BMO ChartList) as Zacks had errors in their Earnings Calendar that we did not catch in time. We've since corrected both of these ChartLists and they can be downloaded from our website.
Because of the incorrect Upcoming Earnings ChartLists, our Upcoming Earnings Relative Strength ChartList needed to be corrected as well. There is still more work to do to it, but this version includes all companies that report this week through Wednesday morning's BMO earnings reports. We will update this ChartList for the remainder of the week sometime tomorrow. We apologize for any inconvenience.
Here's the Upcoming Earnings Relative Strength ChartList and the password:
Password: EARNRS7464
Happy trading!
Tom