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Stocks rally as Democrats win midterms; AMD surges on strong AI chip sales, gold prices rise amid lower Treasury yields.

Market News
04 Nov 2026, 13:41 WIB
Seeking Alpha
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Neutral
Stocks rally as Democrats win midterms; AMD surges on strong AI chip sales, gold prices rise amid lower Treasury yields.

Stocks rallied after Democrats secured key wins in the midterm elections, raising hopes for gridlock that is lowering Treasury yields and boosting gold prices. Texas' gubernatorial shift to Democrats threatens AI infrastructure and data center expansions, impacting companies with major Texas exposure. AMD's shares surged 7% premarket following a strong Q3 report with 45% revenue growth and nearly doubling data center revenue, driven by AI chip sales. The market now watches how political changes will influence tech investments and fiscal policies.

The Wall Street Breakfast Podcast discussing the 'Blue Tsunami' provides context for the Technology sector's performance on Pluang as of Nov 04, 2026 18:02 WIB. Of 150 priced Technology-sector US stocks, 114 rose and 31 fell today. Notable movers include YOU (Clear Secure Inc) at USD 51.25 with a 7.31% increase, AMD (Advanced Micro Devices) at USD 514.75 up 6.38%, and FIRY (Firy Inc.) at USD 13.28 rising 6.33%.

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