The Club's 10 things to watch Friday, Nov. 6 — Today's newsletter was written by Investing Club editors Kevin Stankiewicz and Matthew J. Belvedere. 1. Nasdaq futures are rebounding this morning after the tech-heavy index had its worst day in 19 months on postelection concerns about a data center buildout slowdown. There weren't many places to hide in yesterday's market. But it seems too early to trust this rebound and declare yesterday the washout. Need to see if we are through the liquidations. 2. Very strong October jobs report : nonfarm payrolls rose by 165,000 versus the Dow Jones consensus of 59,000. The unemployment rate also ticked down to 4.1% from 4.2% in the prior month. Big upward revisions to the August and September reports. The 10-year Treasury yield is jumping in response. New inflation data will be in focus next week. Odds of a December Fed rate hike moved up to 75%, per the CME FedWatch tool . 3. Iren , one of the neoclouds in the blast zone, reported better-than-expected revenue last night. Also cut its capital expenditure…
Our top 10 things to watch in the stock market Friday
In short
The October employment data surpassed expectations with 165,000 nonfarm payroll additions, reducing the jobless rate to 4.1% and prompting markets to price in a 75% chance of a December rate hike. Individual corporate earnings delivered stark contrasts, marked by Airbnb surging 14% on elevated guidance while DraftKings tumbled more than 25% due to widening losses. In the healthcare sector, Eli Lilly broadened its distribution arrangement with Hims & Hers to facilitate self-pay pricing for treatments like Zepbound and Foundayo.
Key points
- Accelerating labor market strength is fueling investor expectations of an imminent Federa…: Accelerating labor market strength is fueling investor expectations of an imminent Federal Reserve interest rate hike.
- Tech sector volatility is raising skepticism regarding whether AI startup Anthropic can a…: Tech sector volatility is raising skepticism regarding whether AI startup Anthropic can achieve a $1.5 trillion valuation.
- Solid third-quarter execution and raised full-year outlooks provided immediate share pric…: Solid third-quarter execution and raised full-year outlooks provided immediate share price lifts for Airbnb and Moderna.