Today’s Market Recap: Nonfarm Payrolls Beat Expectations, AI Stocks Rebound Broadly as Nvidia Strengthens, AMD Surges Over 11%, SpaceX Gains Over 8%
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On November 6, U.S. stock indexes closed mixed as a strong October jobs report—showing nonfarm payrolls up 165,000 and unemployment falling to 4.1%—pushed the 10-year Treasury yield to 4.86% and triggered rate-hike reassessments. The Nasdaq and S&P 500 rose 1.09% and 0.31% respectively, driven by a sharp rebound in AI and chip stocks, while the Dow edged down 0.46%. Meanwhile, WTI crude settled at $90.35 amid Middle East tensions, gold retreated to $4,070, and Bitcoin dipped 0.32% to $75,844. Key corporate highlights included strong growth forecasts from SpaceX and IREN, alongside Lam Research’s $25 billion buyback program.
Tracking Market Trends
TradingKey - On November 6, the three major U.S. stock indexes closed mixed. AI concept stocks rebounded after falling sharply for two consecutive days, driving the Nasdaq and the S&P 500 higher; a stronger-than-expected U.S. October jobs report pushed U.S. Treasury yields higher, while the Dow edged slightly lower.
The Dow Jones Industrial Average fell 0.46% to close at 51,291.14; the S&P 500 gained 0.31% to close at 7,376.86; and the Nasdaq Composite Index rose 1.09% to close at 24,579.42.
In terms of sectors and individual stocks, AI chip and data center stocks rebounded. Nvidia (NVDA) rose 2.78%, AMD (AMD) rose 11.04%, CoreWeave (CRWV) rose 6.28%, Micron (MU) rose 5.12%, Lam Research (LRCX) rose 8.23%, IREN (IREN) surged 20.02%, and SpaceX (SPCX) rose 8.62%.
In commodities, Brent crude (UKOIL) settled at $97.98; WTI crude (USOIL) settled at $90.35. Oil prices rebounded after a sharp decline in the previous trading session, as Middle East tensions and the supply outlook continued to drive short-term volatility.
In precious metals, gold (XAUUSD) fell back to around $4,070. The 10-year U.S. Treasury yield rose to 4.86%, as strong non-farm payroll data prompted markets to reassess expectations for further Federal Reserve rate hikes.
In cryptocurrencies, Bitcoin (BTCUSD) closed at around $75,844, down 0.32%.
Market News
U.S. nonfarm payrolls increased by 165,000 in October. The U.S. unemployment rate fell from 4.2% to 4.1%, while average hourly earnings rose 0.4% month-over-month; August and September nonfarm payrolls were revised up by a combined 84,000.
Musk expects SpaceX's Q4 revenue to increase 70% quarter-over-quarter. Musk: Q4 revenue is expected to grow 70% quarter-over-quarter, annualized revenue will reach $500 billion by 2027, and Terafab chip production is projected to reach one terawatt.
IREN's quarterly AI cloud revenue nearly doubled to $200 million. IREN stated that following the close of the quarter, it signed a five-year AI cloud service contract and a short-term contract, and continues to advance liquid-cooled data center construction.
Lam Research approved a $25 billion share repurchase program. The company announced a new $25 billion buyback authorization on November 5 while also declaring a quarterly dividend.
DraftKings' third-quarter revenue grew 16% year-over-year. DraftKings adjusted its 2026 revenue guidance to $6.35 billion to $6.55 billion and expects to invest $650 million to $700 million in adjusted EBITDA for its prediction market business.
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This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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