US Market Summary November 6, 2026: Tech stocks rebound with Nasdaq up 1.09%, employment statistics significantly exceed expectations

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The US market on November 6 in a nutshell

The US market on Friday, November 6, saw a rebound in the S&P 500 and Nasdaq as tech stocks, which had plummeted the previous day, saw buying interest.

On the other hand, the NY Dow fell slightly, making it a day where fortunes varied by index.

Although things calmed down the day after a large drop, it was a tough week overall.

Movement of major indices

• S&P 500: 7,376.86 (+0.31%)

• NASDAQ Composite: 24,579.43 (+1.09%)

• NY Dow: 51,285.73 (-0.46%)

• Russell 2000 (Small-cap index): 2,754.11 (+0.89%)

• VIX (Volatility Index): 25.64 (-9.01%)

Interest rates, foreign exchange, and commodities are as follows.

• US 10-year Treasury yield: 4.86% (+0.45%, up from the previous day)

• USD/JPY: 158.43 yen (+0.59%, yen weakening direction)

• WTI Crude Oil: $90.83 per barrel (+0.34%)

• Gold: $4,074.9 per ounce (-0.94%)

The VIX fell from the 28 range the previous day to the 25 range. However, it remains above 20, which is considered the benchmark for normal times, so a sense of caution still remains.

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Today’s featured topics and why the market moved

Buying back from the previous day’s sharp drop in AI-related stocks

On the 5th, AI and semiconductor stocks plummeted due to concerns that data center construction would slow down under regulations following the Democratic Party securing a majority in Congress in the midterm elections.

It is reported that on the 6th, there was a rebound, with tech stocks seeing buying interest, including AMD rising by about 10%.

Even so, the S&P 500 saw its largest weekly decline since June, and the technology sector is reported to have fallen by about 7% for the week.

October jobs report significantly exceeded expectations

In the October jobs report released on the morning of the 6th, non-farm payrolls (the increase in the number of people working at companies, etc.) rose by 165,000.

Market expectations were around 60,000 to 70,000, marking a significant upside surprise. The unemployment rate was 4.1%, and average hourly earnings were up 0.4% month-on-month.

Interest rates rise due to growing expectations of rate hikes

It is reported that views have strengthened that a rate hike will occur in December due to the strength of the economy and caution regarding inflation.

In response, the 10-year Treasury yield rose, which is thought to have weighed on interest-rate-sensitive financial stocks.

Stocks that moved significantly on individual earnings reports

Companies whose stock prices moved significantly due to earnings reports released after the close of the previous day or on the morning of the day were also notable.

• Airbnb: Rose about 12% on better-than-expected earnings and a bullish outlook

• Cloudflare: Rose about 13% on strong earnings and raised guidance

• DraftKings: Fell about 26% after significantly missing expectations

• Axon: Fell about 16% due to a downward revision of earnings guidance

Sector strength and weakness

The strong sectors were as follows:

• Technology: +1.45%

• Capital Goods: +0.12%

The weaker sectors were as follows.

• Consumer Staples: -1.28%

• Financials: -0.59%

• Utilities: -0.39%

Consumer staples, which were relatively resilient the previous day, turned around and were sold off on the 6th. It is reported that PepsiCo, Coca-Cola, and Walmart declined.

Sectors that fell the previous day were bought, while defensive sectors were sold. It was a day of capital rotation.

Notable Earnings

Earnings that moved the market on the day

In addition to Airbnb and Cloudflare mentioned above, IREN, which handles AI cloud services, also rose significantly following a rapid expansion in revenue.

Stock prices are swinging significantly up and down depending on earnings results, which suggests a high level of attention on individual company performance.

Notable Earnings for This Week to Next Week

• November 8 (Scheduled): Berkshire Hathaway. As it is usually released on the weekend, the official date and time should be confirmed via official announcement.

• November 9 (US time, after market close): Take-Two Interactive. It is attracting attention ahead of the release of a new popular game title.

• November 10 (US time, after market close): CoreWeave. This will likely serve as a gauge for demand for AI-focused cloud services.

• November 12 (US time, after market close): Cisco Systems, Applied Materials.

• November 18 (Japan time): Nvidia. The earnings call is scheduled for after the market close on the 17th in US time.

Outside of earnings, the October Consumer Price Index (CPI) is scheduled for the 10th, and the Producer Price Index (PPI) is scheduled for the 13th.

Perspective as a long-term index investor

Falling more than 4% in one day and rebounding slightly the next. Such large price movements are a phase where it is easy to become anxious every time you see the news.

However, indices like the S&P 500 are diversified across 500 companies, so they are not determined solely by a single theme or the movement of one company.

Short-term fluctuations cannot be predicted. Continuing to invest steadily through dollar-cost averaging and diversification is the best preparation a long-term investor can make.

I consider times when the market is volatile to be a good opportunity to review one’s investment policy and emergency savings.

Summary

On November 6, the US market saw the S&P 500 and Nasdaq rebound due to buying back of AI-related stocks.

On the other hand, expectations of interest rate hikes and rising interest rates following strong employment statistics weighed on the Dow and financial stocks.

Next week, in addition to the CPI announcement, earnings reports from major companies such as Cisco will continue, and Nvidia’s earnings report is also scheduled for the following week. Let’s look at the facts as we organize them, without getting overly emotional about the numbers.

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