Markets had largely discounted a Democratic 'blue wave' in the US midterms; US AI-related stocks showed divergent premarket moves, with Super Micro Computer (SMCI.O) and AMD (AMD.O) up over 7% while SpaceX (SPCX.O) and Tesla (TSLA.O) were down about 4%.

1、前一個交易日納斯達克指數收跌1.07%、標普500指數收跌0.51%、道瓊斯指數收漲0.41%（11月2日）。標普500等權指數與市值加權指數之差較前一交易日回升，逼近一年波動區間上限。 2、小盤股指數羅素2000收跌0.21%，表現介於三大股指之間；10月回吐4月以來漲幅後反彈了5.6%，但近幾日有重回跌勢的趨勢。 3、綜合來看，美股市場寬度略有改善，但整體反彈動能仍然偏弱，仍處於行情輪動階段。 -------- 注：如果標普500等權重與標普500市值加權指數之差減少，說明市場資金集中度上升，科技巨頭（比如美股七姐妹）吸收了大量資金，差值若變爲負值說明資金過分集中，需要警惕崩盤風險。如果指數之差擴大，說明市場上漲動能可能正在向更多公司擴散，市場有望走向普漲。

Industrial Bank chief economist Jiayang Groen said among possible US midterm outcomes, Democratic control of the House would have the biggest market impact. He argued that if Republicans lose the House and budget authority, the Trump administration would find it harder to push further tax cuts or other expansionary fiscal measures; the resulting fiscal stalemate would reduce the likelihood of additional fiscal expansion and curb risks of further fiscal deterioration, limiting upside pressure on long-term Treasury yields. Groen added any Democratic House majority is likely to be narrow and would face meaningful constraints from Senate filibuster rules and the presidential veto on efforts to raise spending.