Tech stock gains boost S&P 500 and Nasdaq ahead of elections

The S&P 500 and Nasdaq stock indexes rose on Tuesday as technology shares gained value, according to reports by The Economic Times and Central Oregon Daily. The Economic Times reported that investors were awaiting the results of the 2026 midterm elections. Meanwhile, the Dow Jones Industrial Average fell during the same trading session. [1][2]

The Economic Times reported that the S&P 500 rose 27.52 points, or 0.4 per cent, to 7,568.92, while the Nasdaq composite gained 207.65 points, or 0.8 per cent, to 25,372.01. The Russell 2000 also increased by 6.57 points, or 0.2 per cent, to 2,812.45. In contrast, the Dow Jones Industrial Average fell by 197.26 points, or 0.4 per cent, to close at 51,786.72. [1]

Technology and semiconductor companies accounted for significant market gains, according to The Economic Times. Broadcom shares rose 3.1 per cent, while Nvidia gained 2.3 per cent and Micron Technology climbed 2.6 per cent. Microsoft, Amazon, and Meta Platforms all recorded share price increases of more than 2 per cent. [1]

The latest movement follows earlier volatility across technology equities. As FTMQ Tech reported earlier, major technology companies recorded strong third quarter revenues, but stock prices fell as investors reacted to heavy spending on artificial intelligence infrastructure. Coinpaper reported that the Nasdaq 100 crashed into its third correction of 2026 as a selloff in artificial intelligence stocks erased trillions of dollars in market value. [3][14]