November 6, 2026

The major averages finished mixed today after investors moved in and scooped up beaten down technology and semiconductor stocks following yesterday's drubbing. The Dow Jones tumbled more than 450-points at the open before investors bought the dip bringing the blue-chip index into the plus column before rolling over again going into the close. The NASDAQ soared almost 500-points at the open before holding on to a modest gain. Economic data was better than expected with the BLS job report showing 165k new non-farm payrolls vs. 59k estimated, Consumer Sentiment rose to 51 vs. 47.5 consensus. The bounce in the NASDAQ came on buying in Technology (XLK), Communication Services (XLC) and Consumer Discretionary (XLY), while Consumer Staples (XLP), REITs (XLRE) and Financial (XLF) lagged the broader market. A light day of earnings saw Airbnb (ABNB) and Moderna (MRNA) beat estimates, with Moderna hitting a new record high. Equities drifted lower in the afternoon before closing mixed. The DJIA ended with a 237.33-point (-0.46%) loss at 51285.73. The S&P 500 tacked on 23.13 points (+0.31%) and settled at 7376.86, while the NASDAQ gained 264.43 points (+1.09%) finishing at 24579.42.

Breadth was positive with advancing issues beating declining issues by 229 units on the NYSE and 1.5:1 on the NASDAQ. Advancing volume was 51% on the NYSE and 65% of the NASDAQ. The VIX fell 2.54 (-9.01%) closing at 25.64. Crude oil prices rose 0.11 (+0.12%) and the December contract closed at $90.63 a barrel. Gold prices lost 39.00 (-0.95%) and finished at $4074.30 an ounce. Bitcoin (BTC) closed the session at $75,770.

Tech bulls battled back from heavy losses, but the bounce barely made a dent in Thursday's drop. While more speculative sectors outperformed today there was selling in some defensive names with only seven Dow stocks trading higher. With the blue wave hitting Congress, the AI trade may have to tap the brakes over the near-term which could limit upside over the next week. A light week of earnings and economic data next week should let investors catch their breath after a volatile ride for traders.

Earnings releases to watch for on Monday include: Barrick Mining (B), Ferguson Enterprises (FERG), Global Ship Lease (GSL), Casella Waste Systems (CWST), Occidental Petroleum (OXY), Tidewater (TDW), Plug Power (PLUG), H&R Block (HRB) and Quantum Computing (QUBT).

Monday's Market Moving Economic Calendar: T-Bill Auctions.

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