On Monday, November 2, US stock index futures climbed, with tech and AI-related shares finding stability after a bruising October. Investor attention turned to the US midterm elections and a fresh wave of corporate earnings. The tech-heavy Nasdaq 100 lost more than $2.5 trillion in market value last month, briefly approaching correction territory. Investors worry about persistent increases in AI spending by major tech firms and are awaiting evidence that those investments will generate higher returns. Several companies have recently raised funds through bond issuance to finance such investments, heightening market concerns about debt-financed spending. As borrowing costs rise, justifying such outlays may become increasingly difficult. Seth Meyer, head of global client portfolio management at Janus Henderson Investors, noted that midterm elections are typically unfavorable for the ruling party; if Democrats win the House, the US would return to divided government—a scenario that is not unusual.