U.S. stocks fell on Tuesday, Nov. 4, as the S&P 500, the Nasdaq composite and the Dow Jones Industrial Average all closed lower. The Nasdaq dropped the most as investors sold off Big Tech stocks.
Meanwhile, the U.S. dollar index rose to 100.14 because investors moved money into safer assets, and U.S. bond yields stayed strong. The stronger dollar also added pressure on multinational companies’ profits.
U.S. stocks ended higher on Wednesday, Nov. 5, extending recent gains as investors digested softer labor data and corporate updates. The S&P 500 rose 0.4%, the Dow added 0.5% and the Nasdaq climbed around 0.6%, supported by renewed buying in technology and growth names.
ADP data showed private payrolls increased by 42,000 in October after a 29,000 decline in September, signaling a gradual cooling in the job market. Wage growth also leveled off, and job changers saw a 6.7% increase, while those staying put gained 4.5%, which helped ease inflation concerns.
Still, sentiment remained cautious as high valuations and mixed earnings, including AMD’s $9.6 billion revenue forecast, kept investors selective heading into the final stretch of the earnings season.
On Thursday, Nov. 6, U.S. markets saw mixed sentiment as the two-year Treasury yield fell. Companies announced 153,074 job cuts in October, the highest in over 20 years and three times last year’s total. It was led by the technology and warehousing sectors as firms adjust to AI adoption, softer spending and rising costs.
In technology, TSMC will begin early construction of its 1.4nm chip line next week, marking a key step in next-gen semiconductor production. SoftBank reportedly explored acquiring Marvell Technology to merge it with Arm Holdings, aiming to create a vertically integrated AI chip ecosystem spanning CPU design to data infrastructure. The potential highlights intensifying global competition for chip dominance, pushing. Marvell shares up 5.5%.
On Friday, Nov. 7, the Dow rose 0.2% and the S&P 500 edged 0.1% higher, while the technology-heavy Nasdaq slipped 0.2%. Markets were under pressure all week due to elevated tech valuations, weak labor signals and the government shutdown.
