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The Nasdaq rose 0.8% at Tuesday’s close as investors returned to technology stocks and awaited the results of the U.S. midterm elections. The Nasdaq 100 gained 0.7% and the S&P 500 rose 0.4%, while the Dow Jones fell 0.4%, or about 200 points. AMD shares jumped 4%, Broadcom gained more than 3%, and Nvidia and Micron each rose over 2%. Apple, meanwhile, dropped about 2% after issuing disappointing gross-margin expectations and reporting iPad sales below analysts’ estimates. Despite the rebound in semiconductor and AI stocks, analysts warned that financing and debt risks remained. The election outcome could also influence the market’s direction, though one strategist said a relief rally was likely once uncertainty subsided, regardless of the result.
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