01·The Lead
Hiring picks up.
The US added 165,000 jobs in October, against 59,000 expected by economists polled by Dow Jones, the Labor Department reported on Friday.
- Jobless rate: fell to 4.1% from 4.2%.
- Revisions: August and September were revised up by a combined 84,000 jobs.
- Pay: average hourly earnings rose 0.4% on the month.
- Long-term jobless: 27.6% of the unemployed, the highest share since late 2021, CNBC reported.
- White House: economic adviser Kevin Hassett said, “Demand for labor is skyrocketing.”
- The Fed: the report keeps a hike at the 9 December meeting in play, Yahoo Finance reported.
02·Market Reactions
Nasdaq up, Europe down.
- The week: the S&P 500 lost 2.7% and the Nasdaq 3.4%, CNBC reported.
- Mohan: Bank of America’s Wamsi Mohan said the AI-hardware sell-off reflects lower valuations, not lower earnings estimates.
- Oil: Brent ended flat but fell more than 16% on the week, CNBC reported.
Friday 6 Nov closes; oil at settlement.
25.64
VIX
−9.01%
+0.89%
Russell 2000
Friday
5.26%
US 30-Yr
+0.9bp
$51.97
Silver
−0.51%
Equities
| S&P 500 | +0.31% | |
| Nasdaq Composite | +1.09% | |
| Stoxx 600 | −1.00% | |
| FTSE 100 | −1.01% | |
| DAX | −1.92% | |
| Nikkei 225 | −5.96% | |
| TASI (Saudi) | closed | |
| ADX (Abu Dhabi) | −1.34% | |
| DFM (Dubai) | −0.28% |
Commodities
| Brent (Jan) | $98.32 | +0.03% |
| WTI (Dec) | $90.83 | +0.34% |
| Gold (Dec) | $4,079.50 | −0.83% |
Rates
| US 10-Yr | 4.86% | +2.2bp |
FX
| EUR/USD | 1.1143 | −0.70% |
Digital Assets
| Bitcoin | $75,938 | −0.09% |
03·Chart of the Day
A partial rebound.
US chip stocks · share prices · close Fri 6 Nov
How much of Thursday’s fall came back.
Friday’s gain as a share of Thursday’s loss, in dollars per share, %.
Intel67%
AMD53%
Chip index30%
Nvidia27%
Micron24%
Source: Yahoo Finance closing prices, 4–6 Nov. Chip index: PHLX Semiconductor Index.
04·What Else Matters
Asia, Europe and the week ahead.
Asia
Seoul and Hong Kong close lower
- Korea: the Kospi closed 6.0% lower on Friday.
- Hong Kong: the Hang Seng fell 1.3%.
Yahoo Finance · 6 Nov
Europe
Insurers lead the fall
- Germany: the weakest major market; a JPMorgan downgrade of German reinsurers hit insurers, Reuters reported.
- Saxo: Ruben Dalfovo said, “There is definitely a spillover effect from what we saw in the US yesterday.”
Reuters · 6 Nov
Companies
Anthropic and Airbnb
- Anthropic: IPO investors are eyeing a $1–1.3 trillion valuation, down from about $2 trillion projected last month, Bloomberg and the WSJ reported.
- Airbnb: rose 11.7% on Friday after third-quarter results beat forecasts.
Bloomberg, WSJ via Yahoo Finance; Yahoo Finance · 6 Nov
Week ahead
US inflation on Tuesday
- Tue 10 Nov, 17:30 GST: US October consumer prices; the yearly rate will not be published because October 2025 data were never collected.
- Fri 13 Nov: US October producer prices.
US Bureau of Labor Statistics via StockTitan · 6 Nov
05·MENA Focus
UAE dips, talks continue.
- Abu Dhabi: the index hit an 18-month low as Aldar Properties fell 1.7%, Reuters reported.
- Dubai: ended a four-session winning streak but gained 4.4% on the week, its best week in more than six months (LSEG data).
- Emaar Development: rose 1.2%; parent Emaar Properties intends to make a Dh15-a-share offer for the rest, Reuters reported.
- Iran talks: after a call with Qatar’s emir, President Trump said, “We are doing very well with Iran.”
- Tehran: willing to discuss nuclear issues it previously excluded, a diplomat told Bloomberg.
- Hormuz: Iran’s Revolutionary Guards said two oil tankers struck mines and caught fire.
- Qeshm Island: Iranian media reported two missile impacts late Friday; a US Central Command official called the area “relatively calm.”
- Saudi Arabia: the Saudi-led coalition said it intercepted two Houthi missiles aimed at Najran and a drone in the Mecca region.
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