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[This Week's Outlook: Midterm Elections, Earnings Reports, and Non-Farm Payrolls Test AI-Driven US Stock Market] 1. The coming week will further test stock market investors with the US midterm elections, a flurry of corporate earnings reports, and the monthly jobs report. Previously market-leading AI deals have already encountered a series of setbacks. Disappointing quarterly results from Alphabet and Amazon triggered turmoil in the AI sector; both mega-tech companies have invested heavily in data centers. Intel's stock price plummeted nearly 29% on Friday after its earnings release. Dragged down by tech and AI-related stocks, the S&P 500 fell 1.8% on Friday, and the Nasdaq plunged 2.9%. 2. The latest earnings reports have exacerbated market concerns about the financing and returns required for AI investments. Major tech and AI companies such as Apple, AMD, and Palantir will release their earnings reports this week; the midterm election results may also determine the regulatory outlook for AI. Empower's chief investment strategist, Mara Norton, stated that the stock market seems somewhat volatile, mainly due to persistent and even escalating concerns about AI. 3. Tuesday's election will determine whether Democrats can regain control of Congress from Republicans. The Democratic Party is widely predicted to win the House of Representatives, while the Senate outcome remains highly uncertain. Investors are bracing for rising opposition to data centers; while they believe no feasible legislation poses a serious risk to AI investments, a Democratic landslide victory is expected to lead to stricter scrutiny. Analysts say a Democratic landslide would be negative for AI stocks, the technology sector, and the market as a whole. Defense and healthcare may also be sensitive to the election results; a Democratic landslide could also bring stricter regulatory scrutiny of Wall Street banks and cryptocurrency companies. 4. Strong earnings reports have supported the stock market's rise so far in 2026. According to LSEG IBES data, with more than half of the S&P 500 companies having reported their third-quarter results, overall earnings are expected to increase by 31.6% year-over-year. However, investors have reacted negatively to some earnings reports. Analysts say the threshold for meeting earnings targets is very high, and companies that fail to meet or cross the threshold will face trouble. Apple will release its earnings report on Monday, and AMD, Qualcomm, and Palantir will also release theirs; more than 100 S&P 500 companies will release their earnings reports this week, including McDonald's, Amgen, and ConocoPhillips. 5. Friday's US October jobs report will reveal the health of the economy. Data released last Thursday showed that the US economy grew at its fastest pace in a year in the third quarter, with strong consumer spending and increased corporate investment in AI; the Federal Reserve raised its economic assessment last week but kept interest rates unchanged. Analysts point out that a missing element in the strong growth narrative is insufficient job growth.