The S&P 500 snapped a three-day skid on Election Day as chip stocks rebounded. Semis doing the lifting makes it a relief bounce, not a broad risk-on call yet. Watch whether breadth follows.

What happened: S&P 500 futures rebounded as chip stocks bounced and oil turned lower on Election Day, after the S&P 500 and Nasdaq Composite started November with losses on tech selling. Why it matters: The rebound in futures and chip stocks followed the prior session's tech-led losses, with oil moving lower on the same day. Key numbers: November opened with losses for the S&P 500 and Nasdaq Composite.

S&P 500 futures rebounded as chip stocks bounced and oil turned lower on Election Day, after the S&P 500 and Nasdaq Composite started November with losses on tech selling.

The rebound in futures and chip stocks followed the prior session's tech-led losses, with oil moving lower on the same day. Key numbers: November opened with losses for the S&P 500 and Nasdaq Composite.