---
title: "US Markets Morning Update - 2026-11-05"
description: "Wall Street traders are betting on a year-end stock rally following the Democratic midterm sweep, but investors are rotating out of AI and data center stocks due to mounting regulatory concerns."
date: "2026-11-05T14:54:51.547931Z"
updated: "2026-11-05T14:54:51.535709Z"
author: "Gianni Frey"
category: "Markets"
url: "https://lati-capital.com/blog/markets-us-2026-11-05"
image: "https://cms.lati-capital.com/v1/files/lati-capital/blog-markets-morning-us-l"
publisher: "Lati Capital"
---

# US Markets Morning Update - 2026-11-05

Good morning NYC. Key highlights for 2026-11-05:

- Wall Street traders are betting on a year-end stock rally following the Democratic midterm sweep, but investors are rotating out of AI and data center stocks due to mounting regulatory concerns.
- Municipalities nationwide advanced policies to tax, regulate, or ban AI data center development, forcing hyperscalers like Meta and Applied Digital to navigate stricter approvals while OpenAI pledged to ditch NDAs on data-center deals.
- Schroders warns that AI-driven job losses could threaten the $500 billion annual flow of retirement savings into U.S. stocks, projecting potential 10% unemployment by 2030 and a significant reduction in equity demand.
- China's stock market entered bear territory after wiping out $3 trillion in value, while the country blocked SoftBank's $5.4 billion acquisition of ABB's robotics division to preserve its AI competitive edge.
- Technology earnings delivered mixed results, with Qualcomm falling ~10% premarket after weak smartphone sales forecasts, while Novo Biologics beat estimates on strong Wegovy demand amid continued GLP-1 growth globally.