Risk appetite has not fully enjoyed the treats of a Fed rate cut, strong earnings and trade peace. Fedspeak, the US Supreme Court and US data could challenge the Dollar’s current strength. Aussie and Pound are on divergent paths as respective central banks meet next week. US Challenger Job Cuts showed a net loss of a little over 153K employment positions in October. This marks the highest Challenger figure reported since April of this year, when the Trump administration formally announced its widespread tariff strategy that would take months and several delays to enact.
Meanwhile, investors continue to debate whether tech valuations are too lofty. Chipmaker Qualcomm (QCOM) posted strong earnings and upbeat guidance in after hours, but its stock slid over 4% — reflecting investor disappointment. For the third quarter, Uber reported earnings well above expectations at $6.6 billion, or $3.11 per share, but that included a $4.9 billion “tax valuation release” benefit. Revenue of $13.47 billion grew 20% from a year ago and topped the $13.27 billion consensus. The 10-year Treasury yield, which influences interest rates on all kinds of consumer loans, slipped to 4.09% from 4.11% at yesterday’s close.
Dow Jones Industrial Average Index
Novo Nordisk, the company behind Wegovy and Ozempic, posted third-quarter adjusted earnings per share of DK4.50 ($0.69), DK20 ($0.03) below the average estimate of analysts surveyed by Visible Alpha. Revenue was up 5.1% to DK74.98 billion ($11.53 billion), also short of forecasts. Given the freeze on government economic data releases because of the shutdown, investors paid extra attention to this morning’s ADP employment report, which revealed that the private sector added 42,000 jobs in October, well ahead of expectations of an increase of 22,000. The shutdown is expected to delay Friday’s release of the October U.S. jobs report. The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment.
“Marriott’s strong quarterly results underscore the resilience of the hospitality sector amidst an uneven global recovery,” said Brian Mulberry, Senior Client Portfolio Manager at Zacks Investment Management. “International momentum, particularly in the luxury segment, has been a bright spot helping to overcome a little softness in the US revenue per available room (down -0.5%) this quarter.” The shares were down about 2% recently amid a broader market decline led by the tech sector as worries about an AI bubble weigh heavy. Still, longtime bulls at Wedbush led by Dan Ives stood by the stock, saying they were encouraged by the “eye popping” results, and that they’d be buyers of any near-term weakness on a “this is as good as it gets” reaction from the market, with a $230 price target.
- For the current quarter, Pinterest sees revenue in the range of $1.31 billion to $1.34 billion, while Visible Alpha analysts are anticipating $1.34 billion.
- The Fed is tasked with a dual mandate from Congress to prevent high unemployment and keep inflation low, and Fed officials have become increasingly worried about the health of the labor market.
- Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years’ experience as an independent trader focusing on technical analysis.
- Product sales increased 12%, with volume growth of 14% but a 4% lower net selling price.
Stock Futures Point Lower as AI Bubble Concerns Continue
“We delivered strong volume growth this quarter, reflecting the demand for our medicines and the impact we’re having on patients worldwide,” CEO Robert Bradway said. “With disciplined investment and a pipeline of first-in-class medicines, we’re focused on expanding access, advancing innovation, and sustaining long-term growth.” Shares of the Singapore-based firm, which supplies hard disk drives (HDDs) for data storage, surged after it said it had agreements with lenders to exchange $500 million in debt for cash and stock. The shares included in it are weighted according to price; the index level represents the average of the shares included in it.
Reports from statistical agencies like the Census Bureau, Department top investment advisors of Labor, and Department of Agriculture are all on hold because they lack the staffing to administer the surveys and data collection. The results and outlook offset strong user growth, with the company setting a record with 600 million monthly active users. In the U.S. and Canada, revenue increased 9% to $786 million, and average revenue per user (ARPU) gained 5% to $7.64. Trex Co. (TREX) shares sank to multiyear lows after the maker of deck-building materials posted worse-than-expected results and lowered its outlook, citing a slump in spending for housing projects. Zimmer Biomet Holdings (ZBH) was the worst-performing stock in the S&P 500 on Wednesday afternoon after the medical device maker’s third-quarter revenue came in weaker than expected.
Markets News, Nov. 4, 2025: Stock Indexes End Sharply Lower; Palantir Leads Tech Declines; Bitcoin Sinks
The falling price of bitcoin—it hasn’t been below $100,000 since May—comes amid mounting outflows in spot bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust (GBTC) collectively saw net outflows of some $1.3 billion since Oct. 29, according to data platform SoSoValue. Roughly $500 million ran out of spot ether ETFs over the same time period. Including today’s sharp gains, shares of Hertz are up nearly 90% this year.
Private Sector Adds Jobs for the First Time in Three Months
The tech-heavy Nasdaq Composite dropped nearly 2% when markets opened on Tuesday, and was recently down about 1.6% amid a broad stock slump. Software maker Palantir (PLTR) dropped 8% despite blowing past estimates and raising its full-year guidance in its third-quarter earnings report yesterday. With the government shutdown still delaying official data, private measures of the labor market show the job market is still drying up.U.S. Private employers added 42,000 jobs in October, payroll provider ADP said Wednesday. That was more than the 22,000 forecasters had expected, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The growth was a rebound after a loss of 29,000 jobs in September, but was slow by historic standards, far below the 221,000 jobs added in October 2024, for instance.
The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. Yesterday, the indexes all finished in the red, with the Nasdaq dropping 2% as Palantir Technologies (PLTR) shares dropped even though the AI software company posted record quarterly results and raised its full-year revenue outlook. Palantir shares, which entered Wednesday up more than 150% this year, finished today down a further 1.5%. US stocks resumed a steep slide Thursday as concerns about Big Tech continued to dog markets and private jobs data showed a tough month for layoffs in October, spurring a rally in bonds. The Dow Jones tested back below the 47,000 handle, down around 2.6% peak-to-trough after posting record highs just above 48,000 at the end of October.
- Jefferies and HSBC analysts, who have “buy” or equivalent ratings for the stock and $300 price targets, said they came away from Tuesday’s results convinced of AMD’s potential for more AI-driven growth.
- U.S.-listed shares of Novo Nordisk have lost about 46% of their value this year.
- Aided by expanded retail vehicle sales as part of its “Buy Right, Hold Right, Sell Right” strategy, the Estero, Fla.-based firm also reported revenue that topped estimates at $2.48 billion.
- That shutdown also lasted 34 days, but wasn’t a full government work stoppage like this one, since some government agencies were funded through congressional appropriations before that shutdown began.
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A general decline in tech stocks is getting a fresh look on Thursday following an initial selloff and brief recovery through the middle of the week. Major stock indexes closed sharply lower Tuesday, with shares of Palantir Technologies leading tech declines even though the AI software firm reported strong quarterly results. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future.
Ozempic sales added 3% to DK30.74 billion ($4.73 billion), better than anticipated. Shares of Zimmer Biomet, which entered Wednesday down 2% this year, dropped almost 14%. Shares of both Seagate Technology Holdings and Western Digital have more than tripled this year and Micron stock has more than doubled amid robust AI infrastructure demand. The tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500 closed up a respective 0.7%, 0.5%, and 0.4%.
With the price of childcare escalating, even faster than rent and college tuition for some families, more mothers are opting out of a job and becoming full-time caregivers for their children. The news sent Pinterest shares down 20% in morning trading and into negative territory for the year. Shares of Snap (SNAP) and Meta Platforms (META) made far more muted early moves by comparison. Product sales increased 12%, with volume growth of 14% but a 4% lower net selling price. For the full year, Zimmer Biomet affirmed its revenue growth guidance of 6.7% to 7.7%, but lowered the top end of its constant currency and organic constant currency revenue growth range projections.