Geopolitics Alpha

European stocks jump on earnings, oil's plunge, US midterm results

Published . Updated .

Key takeaways

  • European stocks moved up sharply on Wednesday and several markets hit multi-week or even multi-month highs as some stronger-than-expected corporate earnings, weak oil prices and softening bond yields lifted sentiment.
  • Exposed: USO, XLE, BWET, VGK, SHEL
  • Market reaction: USO −8.0% on the day; XLE −4.8% on the day; BWET −15.7% on the day

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European stocks jump on earnings, oil's plunge, US midterm results

European stocks moved up sharply on Wednesday and several markets hit multi-week or even multi-month highs as some stronger-than-expected corporate earnings, weak oil prices and softening bond yields lifted sentiment. The decisive victory of the Democrats in the US midterm

Directly affected

  • No company is named in this report.

Indirectly affected

  • USO United States Oil Fund+6.3% 30d

    United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.

  • XLE Energy Select Sector SPDR+6.9% 30d

    Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.

  • BWET Breakwave Tanker Shipping ETF-3.3% 17d

    Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.

  • VGK Vanguard FTSE Europe ETF

    Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“european”).

  • BWX SPDR Bloomberg International Treasury Bond ETF

    SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Europe

  • EFA iShares MSCI EAFE ETF-1.5% 9d

    iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Europe

  • XOM ExxonMobil Holdings+2.0% 16d

    ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.

  • SHEL Shell+3.5% 11d

    Shell (crude petroleum and natural gas, with business in Europe): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
USO+5.38%+6.75%base-8.03%after closeafter closeafter close
XLE+2.64%+4.95%base-4.79%after closeafter closeafter close
BWET+7.18%+11.56%base-15.67%after closeafter closeafter close
VGK-0.30%-0.05%base+2.91%after closeafter closeafter close
BWX+0.16%+0.49%base+0.87%after closeafter closeafter close
EFA+0.59%+0.25%base+2.55%after closeafter closeafter close
XOM+2.57%+5.49%base-4.52%after closeafter closeafter close
SHEL+0.85%+4.31%base-2.29%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

European stocks jump on earnings, oil's plunge, US midterm results Yahoo Finance

Source: Yahoo Finance

How far United States Oil Fund (USO) has moved since 4 Nov 2026

CompanyWhenMoveStatus
Amplify Commodity Trust (BWET)that day-15.67%final price
Amplify Commodity Trust (BWET)three days earlier+11.56%final price
Amplify Commodity Trust (BWET)five days earlier+7.18%final price
BWXthat day+0.87%final price
BWXthree days earlier+0.49%final price
BWXfive days earlier+0.16%final price
EFAthat day+2.55%final price
EFAthree days earlier+0.25%final price
EFAfive days earlier+0.59%final price
Shell (SHEL)that day-2.29%final price
Shell (SHEL)three days earlier+4.31%final price
Shell (SHEL)five days earlier+0.85%final price
United States Oil Fund (USO)that day-8.03%final price
United States Oil Fund (USO)three days earlier+6.75%final price
United States Oil Fund (USO)five days earlier+5.38%final price
Vanguard Intl Equity Index F (VGK)that day+2.91%final price
Vanguard Intl Equity Index F (VGK)three days earlier-0.05%final price
Vanguard Intl Equity Index F (VGK)five days earlier-0.30%final price
Select Sector Spdr Tr (XLE)that day-4.79%final price
Select Sector Spdr Tr (XLE)three days earlier+4.95%final price
Select Sector Spdr Tr (XLE)five days earlier+2.64%final price
ExxonMobil Holdings (XOM)that day-4.52%final price
ExxonMobil Holdings (XOM)three days earlier+5.49%final price
ExxonMobil Holdings (XOM)five days earlier+2.57%final price

Congressional trades in the stocks in this story

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Companies in energy around United States Oil Fund (USO)

Companies mentioned with this story

  • USO United States Oil Fund

    United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “European stocks jump on earnings, oil's plunge, US midterm results.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story

  • XLE Select Sector Spdr Tr

    Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “European stocks jump on earnings, oil's plunge, US midterm results.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story

  • BWET Amplify Commodity Trust

    Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “European stocks jump on earnings, oil's plunge, US midterm results.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story

  • VGK Vanguard Intl Equity Index F

    Vanguard Intl Equity Index F (VGK) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “European stocks jump on earnings, oil's plunge, US midterm results.” Reason on file: Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“european”)

  • SHEL Shell

    In “European stocks jump on earnings, oil's plunge, US midterm results,” Shell (SHEL) is linked, with no stored direction, medium confidence. Reason on file: Shell (crude petroleum and natural gas, with business in Europe): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

  • XOM ExxonMobil Holdings

    For “European stocks jump on earnings, oil's plunge, US midterm results,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

  • BP Bp

    In “European stocks jump on earnings, oil's plunge, US midterm results,” Bp (BP) is linked, with no stored direction, medium confidence. Reason on file: BP p.l.c (petroleum refining, with business in Europe): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

  • CVX Chevron

    Chevron (CVX) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “European stocks jump on earnings, oil's plunge, US midterm results.” Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

How energy news reaches United States Oil Fund (USO)

“European stocks jump on earnings, oil's plunge, US midterm results” (4 Nov 2026) reaches United States Oil Fund (USO) through Energy.

For United States Oil Fund (USO), the reason on file says United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story

A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story

What this energy story puts on the calendar

BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. USO traded between 142.51 and 171.80 across 20 sessions. The latest close on file is 158.17. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.

How solid the energy case looks

46 out of 100

“European stocks jump on earnings, oil's plunge, US midterm results” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.