Wall Street’s post-election rally carried into Wednesday afternoon, but the day’s most telling business news came from company earnings. McDonald’s reported its first drop in U.S. same-store sales since early 2025, Uber and Novo Nordisk posted results, and chipmakers Arm and Qualcomm were set to report after the closing bell. Final closing numbers were not yet available when this article was written; markets close at 4 p.m. ET.
As of early afternoon, the Dow Jones Industrial Average was up about 1,500 points, or 2.9%, back above 53,000, while the S&P 500 and Nasdaq were each up close to 2%, according to CNBC figures cited by StockTitan. Upstormed News covered the morning rally after Democrats won control of Congress; this report focuses on what companies told investors today.
McDonald’s: profit beat, but fewer U.S. customer visits
McDonald’s said adjusted earnings rose 11% to $3.57 per share in the third quarter, above the $3.38 analysts expected. Revenue rose 1.1% to $7.16 billion but fell short of forecasts, according to Proactive and 24/7 Wall St.
- U.S. same-store sales slipped 0.2%. Fewer transactions were largely offset by customers spending more per visit.
- Global same-store sales rose 1.5%, led by Japan, Germany and Australia, while France and China declined.
- The company raised its quarterly dividend 4% to $1.93 per share.
- Results excluded $56 million in pre-tax restructuring charges.
Chief Executive Chris Kempczinski said the company was encouraged by U.S. improvement as the quarter went on “following our intervention on value.” He also said cost-of-living pressure “isn’t going away,” TheStreet reported. Investors focused on the beat: McDonald’s shares rose about 5% in morning trading, and Chipotle, Starbucks and Yum! Brands also gained, according to 24/7 Wall St. Industry data cited in that report showed U.S. fast-food foot traffic fell in the third quarter.
Uber, Novo Nordisk and the day’s big movers
Uber said revenue rose 10% from a year earlier to $14.8 billion and gross bookings climbed 20% to $59.8 billion, TipRanks reported. Its fourth-quarter adjusted profit guidance of $0.95 to $0.99 per share came in below the $1.06 analysts expected, though the stock was up about 3.5% midday, according to TheStreet.
Danish drugmaker Novo Nordisk, maker of Ozempic and Wegovy, reported third-quarter sales of 79.2 billion kroner, up 4% at constant exchange rates, and raised its full-year outlook, TipRanks reported.
Other notable moves, per TheStreet and StockTitan:
- Fidelity National Information Services (FIS) fell about 24% after news of its finance chief’s departure and a JPMorgan downgrade.
- Amdocs dropped sharply after a weak fiscal 2027 outlook that cited a legal dispute with T-Mobile.
- Duolingo and Kyndryl jumped by double digits.
- CVS shares were also lower; Upstormed News covered the company’s news in this morning’s markets report.
Oil slides as Iran de-escalation hopes grow
Energy prices kept falling. The Associated Press reported Brent crude was down 3% at $100.54 a barrel by midmorning, and CNBC later reported U.S. crude down more than 8%, according to StockTitan’s live coverage. Traders are weighing the chance of easing tensions with Iran, even as oil has swung widely this week. The 10-year Treasury yield eased to 4.92% from 4.95%, AP reported.
After the bell and what to watch
Arm Holdings, Qualcomm, McKesson and AppLovin were scheduled to report after the close. Analysts expect Arm to earn $0.48 per share on about $1.38 billion in revenue, with attention on AI data center royalties, TipRanks reported. Qualcomm investors will watch its automotive chip business and AI data center demand.
The economic calendar stays busy: weekly jobless claims and productivity data arrive Thursday, Nov. 5, and the October jobs report is due Friday, Nov. 6, according to StockTitan. Upstormed News will follow those releases.
Why it matters for families
McDonald’s results are a snapshot of everyday budgets. Fewer visits but bigger tickets suggest many households are cutting back while paying more when they do eat out, which is why value menus are back in focus. Falling oil prices, if they last, could bring some relief at the pump ahead of holiday travel. As you plan, our holiday shopping guide can help stretch your budget.
This article is general information, not investment advice.
Read more: Shopify Slides, Apple Dips as Earnings Steal Focus on Election Day
Has your family been eating out less this year, or looking harder for value deals?
Sources: TheStreet, “Stock Market Today (Nov. 4, 2026): Dow rises 2.5% after Dems sweep midterm elections” (November 4, 2026); StockTitan, “Stocks Jump in the Stock Market Today Live, November 4, 2026, as Democrats Win Congress” (November 4, 2026); 24/7 Wall St. via Yahoo Finance, “McDonald’s Rises 5% as Earnings Beat Outweighs U.S. Sales Dip; Chipotle Climbs 4%, Starbucks Gains 3%” (November 4, 2026); Proactive via Yahoo Finance, “McDonald’s earnings beat estimates, but revenue falls short” (November 4, 2026); TipRanks, “These Are the Stocks Reporting Earnings Today – November 4, 2026” (November 4, 2026); Associated Press via Transport Topics, “Oil prices decline as markets soar on midterm results” (November 4, 2026)
Leave a Reply