The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep
Published . Updated .
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Corporate decision makers may decide to accelerate their plans to expand compute capacity and take advantage of the status quo rather than risk a new administration and different rules in 2029
Directly affected
- GS Goldman Sachs Group-4.3% 30d
Named in this report.
Indirectly affected
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- AIQ Global X Artificial Intelligence & Technology ETF-0.1% 17d
Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- SLV iShares Silver Trust-25.0% 30d
iShares Silver Trust: it follows the silver price. Linked by “silver” (silver) in this story.
- MSFT Microsoft+4.0% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- GOOGL Alphabet-17.2% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- AMZN Amazon.com+0.5% 30d
Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- META Meta Platforms-16.6% 30d
Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- PAAS Pan American Silver-12.4% 30d
Pan American Silver (gold and silver ores): silver miners' profits move with the silver price. Linked by “silver” (silver) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| GS | +3.41% | -0.20% | base | after close | after close | after close | after close |
| QQQ | +5.88% | +0.76% | base | after close | after close | after close | after close |
| AIQ | +8.17% | +0.96% | base | after close | after close | after close | after close |
| SLV | +9.38% | -0.54% | base | after close | after close | after close | after close |
| MSFT | +2.19% | +0.22% | base | after close | after close | after close | after close |
| GOOGL | +16.24% | -0.00% | base | after close | after close | after close | after close |
| AMZN | +1.58% | -4.14% | base | after close | after close | after close | after close |
| META | -1.33% | -0.97% | base | after close | after close | after close | after close |
| PAAS | +9.56% | -0.86% | base | after close | after close | after close | after 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.
Corporate decision makers may decide to accelerate their plans to expand compute capacity and take advantage of the status quo rather than risk a new administration and different rules in 2029
Source: MarketWatch
The price since 4 Nov 2026: Invesco Qqq Trust, Series 1 (QQQ) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Global X Fds (AIQ) | three days earlier | +0.96% | final price |
| Global X Fds (AIQ) | five days earlier | +8.17% | final price |
| Amazon Com (AMZN) | three days earlier | -4.14% | final price |
| Amazon Com (AMZN) | five days earlier | +1.58% | final price |
| Alphabet (GOOGL) | three days earlier | -0.00% | final price |
| Alphabet (GOOGL) | five days earlier | +16.24% | final price |
| GS | three days earlier | -0.20% | final price |
| GS | five days earlier | +3.41% | final price |
| Meta Platforms (META) | three days earlier | -0.97% | final price |
| Meta Platforms (META) | five days earlier | -1.33% | final price |
| Microsoft (MSFT) | three days earlier | +0.22% | final price |
| Microsoft (MSFT) | five days earlier | +2.19% | final price |
| Pan American Silver (PAAS) | three days earlier | -0.86% | final price |
| Pan American Silver (PAAS) | five days earlier | +9.56% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | +0.76% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | +5.88% | final price |
| iShares Silver Trust (SLV) | three days earlier | -0.54% | final price |
| iShares Silver Trust (SLV) | five days earlier | +9.38% | final price |
Congressional trades in the stocks in this story
- Rep. Maria Elvira Salazar sold Goldman Sachs Group (GS), worth $1,001 - $15,000 on 24 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael Rulli bought Goldman Sachs Group (GS), worth $1,001 - $15,000 on 3 Sep 2026. That is 62 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Gilbert Cisneros bought Goldman Sachs Group (GS), worth $1,001 - $15,000 on 26 Aug 2026. That is 70 days before publication. Filed 10 Sep 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 35 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 37 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 51 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 69 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN), worth $15,001 - $50,000 on 27 Oct 2026. That is 8 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN) (held by a spouse), worth $100,001 - $250,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Amazon Com (AMZN) (held by a spouse), worth $1,001 - $15,000 on 28 Aug 2026. That is 68 days before publication. Filed 14 Oct 2026. View the filing.
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).
Who gains and who loses around Invesco Qqq Trust, Series 1 (QQQ)
Companies tied to this story
- QQQ Invesco Qqq Trust, Series 1
For “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- AIQ Global X Fds
For “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep,” Global X Fds (AIQ) is linked, with no stored direction, medium confidence. Reason on file: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- SLV iShares Silver Trust
iShares Silver Trust (SLV) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep.” Reason on file: iShares Silver Trust: it follows the silver price. Linked by “silver” (silver) in this story
- MSFT Microsoft
Microsoft (MSFT) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep.” Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- GOOGL Alphabet
Alphabet (GOOGL) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep.” Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- AMZN Amazon Com
In “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep,” Amazon Com (AMZN) is linked, with no stored direction, medium confidence. Reason on file: Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- META Meta Platforms
In “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep,” Meta Platforms (META) is linked, with no stored direction, medium confidence. Reason on file: Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- PAAS Pan American Silver
Pan American Silver (PAAS) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep.” Reason on file: Pan American Silver (gold and silver ores): silver miners' profits move with the silver price. Linked by “silver” (silver) in this story
Invesco Qqq Trust, Series 1 (QQQ)
Invesco Qqq Trust, Series 1 (QQQ) is the company in “The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep,” the 4 Nov 2026 this story story.
The link for Invesco Qqq Trust, Series 1 (QQQ) is this: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
Global X Fds (AIQ) is here too. Its reason reads: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
Dates in the story, and the Invesco Qqq Trust, Series 1 (QQQ) price range
AIQ traded between 61.70 and 67.40 across 14 sessions. The latest close on file is 62.94. QQQ traded between 680.34 and 757.18 across 20 sessions. The latest close on file is 685.32. SLV traded between 44.12 and 55.84 across 20 sessions. The latest close on file is 45.58.
What the saved facts support for Invesco Qqq Trust, Series 1 (QQQ)
46 out of 100
“The AI trade has been ‘sold to death’ but Goldman strategist highlights silver lining from Democratic sweep” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.