As Diwali celebrations take place worldwide, major equity exchanges in New York will maintain normal operating hours without any scheduled holiday closures. Trading across the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite will proceed as usual. Following recent market turbulence driven by tech sector pullbacks and regulatory concerns, market participants are turning their attention to upcoming US inflation metrics, employment statistics, and corporate earnings announcements.
Trading Schedule Across US Exchanges During Diwali
Several US states, including Connecticut, North Carolina, California, and Pennsylvania, have recognized November 8, 2026, as a state legal holiday for Diwali. Because the date falls on a Sunday, official state administrative functions remain closed, and the holiday is not observed on the following Monday. Trading venues on Wall Street operate independently of state-level or regional public holidays.
Neither the New York Stock Exchange (NYSE) nor the Nasdaq lists Diwali among their official trading holidays. Consequently, market transactions across equities and derivatives will take place on Monday, November 8, 2026, during standard hours. Looking further into the month, US exchanges will close on November 26, 2026, for Thanksgiving, followed by an abbreviated half-day trading session on November 27, 2026.
Recent Market Slump and Technology Stock Movements
The previous trading period from November 2 to November 6 saw substantial downward pressure on key benchmark indices. The Dow Jones Industrial Average dropped 722.50 points, or 1.4 percent, ending at 51,285.73. The Nasdaq Composite experienced a sharp weekly decline of 2,613.92 points, or 9.61 percent, to close at 24,579.42. Meanwhile, the S&P 500 declined by 3.07 percent, falling 233.97 points to settle at 7,376.86.
Wall Street recorded one of its sharpest single-day drops since April 2025, driven primarily by tech sector liquidation. Market sentiment was influenced by concerns that Democratic midterm election outcomes might lead to stricter artificial intelligence regulations and reduced capital expenditure in the sector. On November 5 alone, equity market valuation declined by $3.2 trillion. However, selective dip-buying provided support late in the week. Gains were led by Nvidia up 2.8 percent, Micron up 5.1 percent, AMD rising 11 percent, SpaceX increasing 8.6 percent, Tesla up 4.2 percent, Intel gaining 7.7 percent, and Lam Research climbing 8.2 percent. Among hyperscale firms, Alphabet and Meta each gained 0.8 percent.
Technical Indicators and Wall Street Market Outlook
From a technical standpoint, both the S&P 500 and the Nasdaq-100 breached critical support zones, completing double-top price configurations. The small-cap Russell 2000 index saw its short-term rally stall near its 50-day simple moving average (SMA) before dropping below its 200-day SMA. Semiconductor equities continued a broader downtrend, trading approximately 15 percent below their 200-day SMA. Conversely, crude oil prices stabilized near their 200-day SMA despite recent price drops.
Rachel Dashiell, Head of Technical Research and Strategy at Charles Schwab, noted that market volatility is likely to remain elevated. With the Cboe Volatility Index (VIX) holding above the 20 mark, daily swings in the S&P 500 of roughly 1.26 percent are implied. Dashiell highlighted that technical damage observed late in the week, alongside investor rotation toward defensive market sectors, supports a higher-volatility and cautious market posture. Nevertheless, deeply oversold conditions across technology names leave open the possibility of a short-term countertrend rebound if market breadth improves.
Upcoming Economic Data Releases and Corporate Earnings
Investors face an event-heavy calendar across macro indicators and corporate earnings throughout the week
- Monday: Economic data includes Wholesale Trade Sales, Wholesale Inventories, and the New York Fed 1-Year Inflation Expectations report. Corporate earnings scheduled include Affiliated Managers Group, Constellation Energy, CNH Industrial, Ferguson Enterprises, Ionis Pharmaceuticals, JBS, KKR, NRG Energy, RB Global, Roivant Sciences, Bio-Techne, AAON, AST SpaceMobile, Clearway Energy, Occidental Petroleum, Rocket Lab, and Take-Two Interactive.
- Tuesday: Key macroeconomic prints comprise the NFIB Small Business Optimism index, ADP Weekly Employment Change, Consumer Price Index (CPI), and Core CPI. Earnings reports feature On Holding, TransDigm Group, CoreWeave, and Corteva.
- Wednesday: The MBA Mortgage Applications report will be released. Corporate focus turns to earnings from Tetra Tech and VYLR.
- Thursday: Data releases include Initial Jobless Claims, Continuing Claims, Existing Home Sales, and the Federal Budget Balance. Scheduled corporate earnings feature Dillard's, FIGR, NIO, YETI Holdings, Applied Materials, Cisco Systems, and Nu Holdings.
- Friday: Producer Price Index (PPI) and Core PPI reports will be issued, providing crucial inputs for Federal Reserve monetary policy deliberations. No major corporate earnings are scheduled for Friday.
